From Treasury to a Senate Committee:
The Federal Treasury says wages growth will be up to 2 per cent slower under an emissions trading scheme…”Just looking at mitigation costs alone, the introduction of an emissions price in Australia will ultimately reduce Australia’s GDP slightly and would reduce real wages as a consequence,” she said.
The whole ETS scheme makes a mockery of Rudd’s election claim to protecting “working families.” Add to this the tens of thousands of jobs that will be lost in the mining sector, the collapse of regional communities, the transfer of billions in private wealth to the government for re-distribution and a rising cost of living. All in the name of promoting ‘green’ industries via a carbon tax that will promote severe market inefficiencies. Billions to be spent, thousands to be sacked and millions to suffer with a declining standard of living, in the name of what? At no point has a politician come out and said by how much the ETS will reduce Australia’s average temperature or increase rainfall. They have not reached that level of audacity, yet…