Posts Tagged ‘ carbon tax ’

ALP carbon tax driving companies to the wall


At the beginning of the year, Treasurer of the Year™, Wayne Swan, claimed the impact of the carbon tax was minimal. Swan gleaned this vital information not from detailed Treasury costings or anything like that. Rather, he went down to his local supermarket – voila!

But new figures in paint a very different and worrying picture.

The Australian Securities & Investments Commission reports there were 10,632 company collapses for the 12 months to March 1 – averaging 886 a month – with the number of firms being placed in administration more than 12 per cent higher than during the global financial crisis.

Sure. Companies are also hurting because of the GFC, and the high Australian dollar, but the timing of the CO2 essential trace gas tax couldn’t have been worse.

Australian Chamber of Commerce and Industry chief economist Greg Evans said: “Rapidly escalating energy prices caused by the carbon tax and other green programs are taking their toll on many Australian businesses.

“In energy reliant industries it is already showing up in job losses, deferred investment and in the worst cases, business closures,” Mr Evans said.

A real kick in the guts. OK, so Gillard and Co. had no control over the GFC, and whilst there are limited options to address the high Aussie dollar, it is a floated currency. But the carbon tax is certainly something they could control.

It compounds.

The carbon tax – and mining tax – were also showing up as “sovereign risk” issues in discussions with foreign investors.

In short, it’s a rolled-gold disaster. Record company closures, higher prices, job losses, lower investment and for what?

The bloody tax doesn’t even make any money!

No, it’s not the only reason the ALP and Gillard are doing so poorly in the polls, but it can’t be helping. The 2PP is at 56-44 today, ALP primary vote is down to a paltry 31, and yet the ALP ship sails full steam ahead towards oblivion.

And as for the climate the tax is meant to soemhow change? Nope, it’s pretty static, too.

Do the math


It seems the ALP isn’t much chop at it.

Riddle me this. With any budget surplus and carbon tax compo set to be tied to a hopeful EU carbon (dioxide) price of around $29 a ton, how’s it all going to work when it’s less than $5 a ton?

Carbon carking it


Just walk away already. How many more billions need to be wasted on useless gestures?

The world’s only global system of carbon trading, designed to give poor countries access to new green technologies, has “essentially collapsed”, jeopardising future flows of finance to the developing world.

Billions of dollars have been raised in the past seven years through the United Nations’ system to set up greenhouse gas-cutting projects, such as windfarms and solar panels, in poor nations. But the failure of governments to provide firm guarantees to continue with the system beyond this year has raised serious concerns over whether it can survive.

No worries. There’s another junket in Qatar this December.

Image H/T Craig Kelly MP, via reader Sean (on Facebook)

Kelly:

Australian taxpayers are funding a 21-strong delegation of bureaucrats from the Department of Climate Change to attend a UN “Climate Change Conference” in Bangkok, with all the departmental staff travelling bus
iness class.

This delegation follows a $360,000 trip for a 38-member delegation to last year’s UN “Climate Change Conference” in Mexico, where Climate Change Minister Mr. Combet, parliamentary secretary for Climate Change Mark Dreyfus, and their advisers all flew business class to exotic Cancun – which followed the then Rudd government spending nearly $1.5 million on travel and accommodation costs for his delegation of 68 to Copenhagen “Climate Change Conference”.

Killing the golden goose


Perfect timing for a carbon tax and mining super profits tax! /sarc

And after all that, boy oh boy will Queensland Premier, the LNP’s Campbell Newman be unpopular. TBH, I think he’s going to far with all his cuts and stuff.

His latest is raising state mining royalties by 50% to the tune of an extra $1.6 bil.

OK, so he has to raise revenue (and slash 14,000 public sector jobs) to deal with the disastrous $90 bil odd debt Labor left QLD in, and thus he really is in between a rock and a hard place, and sure, he has time before the next election, but one suspects a lot of people who voted for him will be quite grumpy indeed.

Swan will blame Newman. Newman will blame Swan :roll:

UPDATE

The editorial in the Australian:

THERE should be no surprise if the Newman government’s first state budget was tough. Treasurer Tim Nicholls must have known there could be no half-measures if he is to restore the once-prosperous state’s financial position. He told Queenslanders: “we trust and hope neither this government, nor any other government will need to undertake such a difficult task of such magnitude again.” After years of fiscal ill-discipline in other jurisdictions, we would not be too sure.

A word of warning? Tony Abbott winning the next federal election isn’t even going to be half the battle. Our gross national debt will have gone up more than $100 bil by then.

Thank goodness the mining boom might be over


Finally.

RESOURCES Minister Martin Ferguson has declared the end of the mining boom, following the shelving by BHP Billiton of its Olympic Dam mine expansion.

OK, so people will lose their jobs, families will be affected. But those families shouldn’t worry about what they’ll eat for dinner, or how the kids’ education will be paid for, or where they’ll sleep that night.

Rather, they should think of themselves as, now, part of the Solution whereas before, they were part of the Problem. As they withdraw that Centrelink welfare cash, a warm inner glow should be felt, bright with the knowledge that the planet is being saved.

When the planet will actually be saved, how we’ll ever know, and when we’ll be told by the authorities is an argument for another time, but to be clear, when your house is foreclosed and your belly rumbles, fret not, and feel the positive Gaia energy flowing into your hearts from literally millions of Australians who care for the earth.

Much praise, of course, goes to both the current and former Prime Ministers of Australia, Julia Gillard and Kevin Rudd, respectively. Without their foresight, their vision – and we are of course talking about the extra mining tax, the belated carbon tax, and not to mention the myriad of other reassuring regulations recently implemented – the earth’s salvation could have been delayed by years, or worse, never have manifested.

Footnote: And a little added bonus is that those affected families will no longer have to worry about the rightful condemnation extolled by Wayne Swan, our Treasurer of the Year.

So the carbon tax won’t hurt small business, eh?


Hmm.

SMALL business owners are are unable to pass on rising costs from the carbon tax because of unfair competition from landlords and big retailers, a lobby group says.

A national survey of 186 small firms has found 50 per cent are reporting carbon tax-related price hikes to power bills and other supplies. But only 33 per cent are making their clientele pay.

That’s OK. Everybody knows small businesses have huuuuuge profit margins.

Some businesses claimed the effect of the tax is so bad they may have to close some operations.

“We have to consider closing one business down to keep the other business open because of the carbon tax,” said Doug Cush, the owner of Bellata Gold Pasta, in the northern NSW electorate of New England.

A real vote winner.

Should be fun when those quarterly power bills start coming in.

Three big reasons why Julia Gillard can’t possibly continue as PM


Not to mention the other myriad of reasons – listed here – but here’s the big three.

  1. The carbon tax
  2. The boats
  3. The AWU/Slater&Gordon scandal and cover-up

No wonder Labor’s Caucus is in crisis discussions.

And as for that list, do you agree? Perhaps the NBN,  her deal with the Greens, or something else scores higher in your mind.

Tell us below in comments. What are your big three?

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