Carbon tax fears are curtailing growth


UNCERTAINTY is prompting people to "keep their money in their wallets", Treasurer Jack Snelling has told business leaders.

Mr Snelling says there is uncertainty over the nation's leadership and a lack of understanding about how the carbon tax will affect household budgets.

While quick to state his Government's support for a price on carbon, Mr Snelling told a Committee for Economic Development of Australia breakfast in Adelaide yesterday any reform of that scale "creates uncertainty".

"Australian households, they don't know what it's really going to mean for them, they don't know what it's going to mean for their utility bills, they don't know what it's going to mean for their household budgets," Mr Snelling said.

"So with all that uncertainty, of course, again, they're not going to go out and commit to a large financial transaction."

Mr Snelling also named "federal political uncertainty" as a factor holding back spending, adding: "Any retailer will tell you that when a federal election is called, people keep their money in their wallets, they don't go out and spend. We have essentially been in federal political election mode for the past 18 months with the hung parliament."

Business SA chief Peter Vaughan believed the full impact of the carbon tax "remains to be seen".

He said: "The only certainty ... is that prices are going to go up and business competitiveness will take a major hit."

Restaurant and Catering SA chief executive Sally Neville said the carbon tax was a "real question mark" for business and consumers.

"They don't know what everything's going to cost after July, quite frankly," she said. "That will only become clear as we move through the second half of the year."

Opposition treasury spokesman Iain Evans said Mr Snelling's comments showed the practical impact of the carbon tax had not been explained well enough by the Commonwealth.

"What he's really saying is that he is suffering because the public don't understand their federal counterpart's policies," he said.

http://www.adelaidenow.com.au/ipad/carbon-tax-fears-are-curtailing-growth/story-fn6bqvxz-1226385459331


Figure 1:  Approximate costs of climate action (green) and inaction (red) in 2100 and 2200. Sources: German Institute for Economic Research and Watkiss et al. 2005

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The Greens & The ALP are doing much worse...they are committing conspiracy against the constitution of Australia and showing flagrant contempt for the will of the people.  The relevant legal authorities need to act now.

Haha Abbott is attempting to undermine anything and everything he can.

SOB

Clearly Greg Combet needs to be investigated for his comments yesterday to determine if there has been a crime committed against the people of Australia and if he is a fit and proper person to sit in the parliament.

Interesting how Abbott is supposedly dragging the economy down, I didnt realise he had more power than the 70 odd ALP members talking it up.

Powerful man that OPPOSITION leader Tony.

Or maybe the fact Europe is on the brink of collapse and the ASX has tumbled in the last month has a LOT MORE to do with it.

Sir Spot of Borg wrote on Jun 6^th, 2012 at 9:56am:

Haha Abbott is attempting to undermine anything and everything he can. SOB

Article doesn’t even mention Abbott. Did you read it? I thought you didn’t trust the media?

FriYAY wrote on Jun 6^th, 2012 at 10:13am:

Sir Spot of Borg wrote on Jun 6th, 2012 at 9:56am: Haha Abbott is attempting to undermine anything and everything he can. SOB Article doesn’t even mention Abbott. Did you read it? I thought you didn’t trust the media?

I doubt you are that stupid so you are pretending. the article is about abbotts fear campaign on the carbon tax. You have been picking @ me in several threads now.This is the first time that you have even been anywhere near the topic with it. Got a headache maybe? Take a bex.

SOB

Another F#(king moron post from the resident moron

The research was published in 2005 and chances are data used was well before that date.

It does not take into account the fact that Australia emits 1.3% of the World's total human carbon emissions

And yet we allow this sort of research linked to the LIBs but ignore the 63% that rejects the carbon tax. And the 57% that wants the carbon tax repealed.

Even as a leftie you could see the absurdity in Green's post!!!!!

Sir Spot of Borg wrote on Jun 6^th, 2012 at 10:35am:

FriYAY wrote on Jun 6th, 2012 at 10:13am: Sir Spot of Borg wrote on Jun 6th, 2012 at 9:56am: Haha Abbott is attempting to undermine anything and everything he can. SOB Article doesn’t even mention Abbott. Did you read it? I thought you didn’t trust the media? I doubt you are that stupid so you are pretending. the article is about abbotts fear campaign on the carbon tax. You have been picking @ me in several threads now.This is the first time that you have even been anywhere near the topic with it. Got a headache maybe? Take a bex. SOB

Mr Snelling says there is uncertainty over the nation's leadership and a lack of understanding about how the carbon tax will affect household budgets.
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any reform of that scale "creates uncertainty".
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"Australian households, they don't know what it's really going to mean for them, they don't know what it's going to mean for their utility bills, they don't know what it's going to mean for their household budgets," Mr Snelling said.
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"federal political uncertainty" as a factor holding back spending,
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Business SA chief Peter Vaughan believed the full impact of the carbon tax "remains to be seen".

He said: "The only certainty ... is that prices are going to go up and business competitiveness will take a major hit."
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Restaurant and Catering SA chief executive Sally Neville said the carbon tax was a "real question mark" for business and consumers.

>>>>>

All understandable.

And all opinions can be reached with out one comment from Abbott.

Maqqa wrote on Jun 6^th, 2012 at 10:50am:

Another F#(king moron post from the resident moron The research was published in 2005 and chances are data used was well before that date. It does not take into account the fact that Australia emits 1.3% of the World's total human carbon emissions And yet we allow this sort of research linked to the LIBs but ignore the 63% that rejects the carbon tax. And the 57% that wants the carbon tax repealed. Even as a leftie you could see the absurdity in Green's post!!!!!

And Abbotts solution of throwing billions of taxpayer dollars at the biggest polluters will cost nothing?
Is the money coming from Abbotts magic pudding?
Pull the other one..it plays jingle bells.

so it has finally twigged to Snelling that we are 'in election mode'??? that ALWAYS happens with unstable minority govts. And that is because we are only one death/resignation/cross the floor away from an election. No surprise here.

adelcrow wrote on Jun 6^th, 2012 at 12:16pm:

Maqqa wrote on Jun 6th, 2012 at 10:50am: Another F#(king moron post from the resident moron The research was published in 2005 and chances are data used was well before that date. It does not take into account the fact that Australia emits 1.3% of the World's total human carbon emissions And yet we allow this sort of research linked to the LIBs but ignore the 63% that rejects the carbon tax. And the 57% that wants the carbon tax repealed. Even as a leftie you could see the absurdity in Green's post!!!!! And Abbotts solution of throwing billions of taxpayer dollars at the biggest polluters will cost nothing? Is the money coming from Abbotts magic pudding? Pull the other one..it plays jingle bells.

Biggest polluters of the 5% reduction of the 1.3%?