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We explain what a carbon tax is and how it will affect the nation's economy and more importantly your pocket With almost 3000 people rallying outside Parliament House in Canberra yesterday to protest against a carbon tax we take a look at what it actually means for Australians. Wednesday's rally followed an 8000-strong pro-carbon tax rally of environmental activists recently in Melbourne. With the issue generating hysterical political debates and sharply dividing the Australian electorate, we explain what a carbon tax is and how it will affect the nation’s economy and people’s pockets. (For a related reading, http://au.news.yahoo.com/a/-/latest/8996115/carbon-tax-protest-targets-gillard/) What Is Carbon Tax A carbon tax is an environmental tax levied on the carbon content released by burning fuels like coal, petroleum and natural gas. Carbon atoms present in fossil fuels are released as carbon dioxide when they are burnt. A carbon tax is implemented by taxing the burning of these fuels - specifically coal, petroleum products such as gasoline and aviation fuel, and natural gas. The taxing is in proportion to the carbon content of the fuels. A carbon tax is considered environmentally friendly and economically viable as it increases the competitiveness and value of non-carbon technologies such as wind, sunlight and hydropower and also raises revenues. (For a related reading, http://au.finance.yahoo.com/news/Carbon-price-cost-275-ERAA-aap-651690052.html) The federal government under Prime Minister Julia Gillard plans to introduce a price on carbon emissions from July 1, 2012. The scheme would involve a yet-to-be-determined price on a tonne of carbon emissions from July 1, 2012, followed by an emissions trading scheme (ETS) with a flexible price in three to five years. Carbon Tax: The Good, The Bad & The Ugly There are various schools of thought on the effect of carbon tax on the Australian people and the economy. Manufacturers say the introduction of carbon tax will harm the industry and entrench Australia's dependence on resources. Bluescope Steel chief executive Paul O'Malley said a high Australian dollar and higher interest rates were creating a tough environment for the manufacturing, education and tourism sectors as Australia rises on the back of the resources boom. "Throwing a carbon tax on top of that basically says no we don't want to be anything but a resources economy," he said. There are also fears that bills will leap after the tax is introduced. There have been estimates that the average household power bill will increase by about $300 a year. The government has assured households they will be compensated for any price increases. Ms Gillard said Australians can "expect to see a generous assistance package", but she says it is too early to know how much it will be worth. (For a related reading, http://au.finance.yahoo.com/news/Carbon-pricing-cost-aap-2229476623.html) A visiting European Union carbon price expert has also assured that people would see little impact on their cost of living under the scheme. Jill Duggan, a carbon price expert from the EU's Directorate-General for Climate Action, said the scheme has created more jobs for the 500 million people in European countries who have lived with an emissions trading scheme since 2005. Duggan said it was easier to implement than first feared. Duggan said Australia had the chance to invest in sustainable energy systems such as solar to actually increase employment. Environmental groups see carbon tax as a step in the right direction to controlling global warming and fighting climate change. A report says billions of dollars raised by Australia's carbon tax will end up overseas, helping poor countries battle climate change. Ms Gillard's new tax will be used to allow Australia to meet its share of a $100 billion-a-year United Nations fund to transfer wealth from rich countries to help undeveloped nations adapt to global warming. (For a related reading, http://au.finance.yahoo.com/news/Govt-weighs-carbon-tax-ad-abc-554962952.html?x=0) What The Public Thinks The carbon tax plans have hit consumer confidence, which has fallen in the wake of the proposal's announcement. The Westpac-Melbourne Institute measure of consumer sentiment dropped 2.4 percent in March with concerns about the federal budget and tax issues considered the major issues at play for the drop. It now sits at its lowest level since June last year. But the general economic outlook remains good, with respondents increasing upbeat about the economy over the coming 12 months. The Politics Of Carbon Tax Opposition Leader Tony Abbott has made his anti-carbon tax stance clear many times. He has also slammed Ms Gillard for going back on her campaign promise to not introduce the tax. He maintained a carbon price would be "great big new tax on everything", while shadow environment spokesman Greg Hunt said Ms Gillard had twice before the election unambiguously ruled out a carbon tax under her Government. "It now looks like Julia Gillard is opening the door to a plan by Labor's partners, the Greens, for a carbon tax," he said. (For a related reading,http://au.finance.yahoo.com/news/PM-denies-business-left-abc-497322168.html?x=0)

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Meanwhile, Greens leader Bob Brown has said he supports any compensation for tax on carbon emissions and says the tax will not dent the hip pockets of Australian motorists. "Our job is to ensure that the average Australian householder and car-user is not punished by a carbon price," he said. "The idea here is to make sure the polluters pay." The move to set a carbon price gained fresh momentum weeks ago after BHP Billiton chief Marius Kloppers urged the Government to act ahead of the rest of the world to ensure Australian industry was ready when a global price was introduced. While industry groups were split, Ms Gillard welcomed Kloppers' intervention, saying the Government would look at options for a carbon price as part of a cross-party climate change committee involving Labor, Greens and independent MPs. (For a related reading,http://au.finance.yahoo.com/news/Carbon-price-test-Australia-abc-3631441795.html?x=0)

http://au.pfinance.yahoo.com/moneyandyourlife/article/-/9066826/carbon-tax-explained-what-it-means-for-you-and-the-economy/

carbon price expert...lol.. now I have heard everything...

does he put Garnuat in the shade?? as he thinks its going to affect us greatly.. but its ok because the govt is going to give us money to pay for all the increases.. maybe you havent heard that rumour watif..

well its a plain toss up who to believe these days isnt it?

I have notice how all the liberals have keep away from this thread


Whats wrong don't you lot like the truth?

wrote on Mar 25^th, 2011 at 10:21am:

I have notice how all the liberals have keep away from this thread Whats wrong don't you lot like the truth?

We do,  but it's hard to find in the Labor/Greens alliance we have 4 government.

Jill Duggan, a carbon price expert from the EU's Directorate-General for Climate Action, said the scheme has created more jobs for the 500 million people in European countries who have lived with an emissions trading scheme since 2005.

So where did those jobs come from?

http://www.google.com/publicdata?ds=z9a8a3sje0h8ii_&met=unemployment_rate&idim=country_group:eu&dl=en&hl=en&q=unemployment+in+the+eu

yeah and 2007 they had the recession and still not recover yet .. Good on ya EU ..

So, how is a Carbon Tax going to actually reduce Carbon emission, in OZ, let alone the rest of the planet, without making the Disposal Income of most taxpayers disappear?

Notwithstanding the above, how will it be possible to reduce Carbon emissions, from even current day levels, if the population continues to grow, at the levels suggested by both Labor & Liberal?

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So, how is a Carbon Tax going to actually reduce Carbon emission, in OZ, let alone the rest of the planet, without making the Disposal Income of most taxpayers disappear?

There will be a bunch of handouts to compensate the poor. I would prefer they reduced other taxes.

a carbon tax mean we have to pay for our own farts .. for the working class will find a bit too hard to pay compare to those wealthy loonies Green .. but for a small population as such, our farts wouldn't affect much to the world carbon .. why don't the Green go and tell The Chinese and Indian .. with population combine close to 3 billions their farts would pollute the world .. with CO2... they should pay for their own Carbon ...

Government policy is for a 5% emissions reduction, increased to 15% with the major first world players on board, and 25% with China and India. Sounds pretty sensible to me.

bridonta wrote on Mar 25^th, 2011 at 5:20pm:

a carbon tax mean we have to pay for our own farts .. for the working class will find a bit too hard to pay compare to those wealthy loonies Green .. but for a small population as such, our farts wouldn't affect much to the world carbon .. why don't the Green go and tell The Chinese and Indian .. with population combine close to 3 billions their farts would pollute the world .. with CO2... they should pay for their own Carbon ...

The Carbon Tax is ahead of the technocratic scientific dictatorship they are working to bring in also called the "carbon economy".  Globalists are seizing our energy resources, they plan on issuing us all carbon consumption credit cards based on quack formulas of how energy should be measured into currency and allocated most efficiency.  It will replace all existing currencies, taxation systems, national governments, constitutions and legal systems.  You will be micro managed from the cradle to the grave like Aboriginals are up north.  And they will call it a free market.  The quacks will distribute carbon credits to us individually, globally as they see fit, in the measure they see fit and once your credit is dried up, there is no more for you thats it.

Global warming - climate change - its all bullshit propaganda and fear mongering by people like Gillard and Brown trying to usher in a scientific dictatorship they dreamed up in the Universities modeled on Hitler, Stalin, Lenin, Mao's failed blood soaked doctrines.

That is btw why I am taking them to the high court while I can to expose them for the shysters and snake-oil salesmen they are and if you had any sense about you you would to.