LABOR’S $6 billion carbon tax reduced Australia’s greenhouse gas emissions by less than 0.1 per cent.
As PM Tony Abbott ratchets up the pressure on Labor’s Bill Shorten to axe the carbon tax by Christmas, the new figures will be released this week by Australia’s National Greenhouse Gas Inventory.
They reveal that the introduction of the carbon tax coincided with a reduction of greenhouse gases of around 300,000 tonnes in the first full financial year of operation.
While the carbon tax is now $24 a tonne, the effective cost of the emissions reduction on the basis of revenue raised is $21,000 per tonne.
The new figures reveal NSW produces more greenhouse gas emissions than any other state. But Queensland has the most companies paying the tax upfront. The cost of the carbon tax on electricity generators and other polluters is then passed on to consumers through higher electricity prices. Victoria is closely behind Queensland in total emissions.
In NSW and the ACT, there were 72 companies paying the carbon tax and overall the state produced 78.6 million tonnes of emissions. WA produced 42.2 million tonnes with 63 companies forced to pay the carbon tax. In SA just 11 companies paid the carbon tax, producing a modest 4.4 million tonnes of liable emissions. Tasmania produced just 1.7 million tonnes.
Let’s be clear, this policy is a disaster for Australia. For exactly the reasons those of us who opposed it said. The Coalitions direct action policy is no better. Different dog, different fleas.