01 June, 2012

Ant's envelope

Ant says:

"Qld govt owned corps will be forced to pay about $700m to $750m in  costs & this tax will hit businesses / people."

"Qld owned energy corps will have circa $850m in carbon cost, if say 70% of that is for Qld, very roughly $128 for every Qld'er"

From the National Greenhouse Energy Reporting database (2010-2011):

scope 1 (t CO2e) scope 2 (tCO2e) Total energy GJ
C S Energy Limited  14,880,516 105,497 182,516,197
Tarong Energy 9,149,947 99,891 106,887,980
Stanwell Corporation 5,929,509 12,364 70,751,592
29,959,972 217,752 360,155,769
Total CO2e 30,177,724 tonnes
Carbon Tax at $23/t $694,087,652.00

I keep hearing that the sky is falling. Tony Abbott, Campbell Newman et al are predicting doom. I wonder if anyone will notice when the sky does not fall on 1 July 2012.

 Here is the latest message of doom and blame from: Treasurer and Minister for Trade: The Honourable Tim Nicholls

Thursday, May 31, 2012
Labor’s carbon tax whack on Queensland
THE devastating impact of the Gillard Government’s carbon tax will be more pronounced in Queensland than any other state in Australia, Treasurer and Minister for Trade Tim Nicholls said today.

Mr Nicholls said the carbon tax, which comes into effect on July 1, would impact all areas of the state’s economy and could see up to 21,000 Queenslanders lose their jobs.

“This toxic tax will harm Queensland’s economic growth, reduce living standards of everyday Queenslanders, increase electricity bills and significantly harm our State Budget to the tune of $1.2 billion over the next four years,” he said.

“Our State Government expenses will jump by $148 million next year alone, and reach a whopping $198 million by 2015-16 which will make the task of balancing the State’s books even harder.

“Queensland Government Owned Corporations (GOC’s) will be forced to pay about $700-750 million in carbon tax costs, which will hurt households through higher utility charges.

“Unlike Victoria, whose polluting brown coal generators will receive assistance, Queensland generators will receive no Commonwealth assistance, meaning the costs of the tax will have to be passed on to consumers.

“This tax will also hit businesses, especially those servicing the resource sector, and Queensland local councils including Brisbane, Maranoa and Gladstone.

“The plain and simple fact is Queenslanders would have received a reduction in their electricity bills this year, had it not been for the carbon tax.”

Mr Nicholls said modelling from Queensland Treasury and Deloitte Access Economics, which used the Commonwealth Government’s own assumptions, found that by 2020:

• As many as 21,000 Queensland jobs could be lost
• Real wages could be reduced by up to $2,940
• Queensland’s Gross State Product could take a $9.6 billion hit

He said it was disappointing to see the Federal Labor Government introduce a tax which would drive up the cost of living for Queensland families at a time when the Newman Government was taking measures to ease the upward pressure on household budgets.

“It is disappointing to see this tax introduced at a time when Queensland families and businesses are feeling the effects of cost of living pressures which skyrocketed under the former Labor Government,” Mr Nicholls said.

“This LNP Government has already started delivering relief with the introduction of the Cost of Living Amendment Bill, which Labor Members tried to delay, and we will continue to deliver our commitments in spite of this toxic new tax.”


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