Scrapping the carbon tax – reducing cost-of-living pressures
We will immediately introduce legislation to scrap the world’s biggest carbon tax and start reducing cost of living pressures for all Australians caused by rapidly rising electricity and gas prices.
- By repealing the world’s biggest carbon tax we will secure a bigger economy – an extra $1 trillion of lost output cumulatively by 2050 on Labor’s own figures, or the equivalent of shutting down the whole Australian economy for almost a year. This will secure more Australian jobs, boost Australia’s exports and make Australia’s businesses more competitive and productive. No other energy-rich country has introduced an economy wide carbon tax. The world’s biggest carbon tax damages the Australian economy, drives up prices unnecessarily, hits the cost-of- living of families, hurts small businesses and makes all Australian businesses less competitive in both domestic and international markets.
- We will take direct action to reduce carbon emissions. Through the Coalition’s Direct Action Plan we will deliver on our commitment to a five per cent reduction in carbon emissions by 2020. We will reduce emissions inside Australia, not by paying billions of dollars to foreign carbon traders.
- We will act immediately to abolish the carbon tax. On day one of a new government– we will instruct the Department of Prime Minister and Cabinet to draft legislation to repeal the carbon tax. The Finance Minister will notify the Clean Energy Finance Corporation that it should suspend its operations and instruct the Department of Finance to draft legislation to permanently shut down the $10 billion fund. The Environment Minister will instruct the department to start implementing the Coalition’s Direct Action Plan on climate change and carbon emissions.
- Legislation to repeal the carbon tax will be the first piece of legislation the Coalition will introduce.