Liberals claim ALP climate policy to cost CQ firms millions
SOME of Capricornia's employers are set to be slugged millions of dollars according to LNP modelling of the cornerstone of Labor's climate policy.
Given that Labor was yet to provide the finer details on how it will achieve emissions reductions in Australia's electricity generation sector and the resulting impacts on Australian households and firms, the Coalition have been left to speculate as to its financial impact.
According to Labor's climate policy, which was a reworked version of a previous Coalition Government policy, there was an element known as the Safeguard Mechanism where 250 large Australian firms and 110 medium sized firms would be required to reduce their non-electricity (Scope 1) CO2 emissions by at least 45 per cent by 2030.
Firms that failed to meet these targets would be required to purchase domestic or international carbon credits.
The Liberal Party claimed that Labor's plan amounted to an emissions trading scheme/carbon tax which would not only strangle growth in these firms, but demand difficult to achieve deep cuts in these firms' non-electricity emissions.
Based upon estimates of an incrementally increasing price on carbon over the next decade, Liberal Party modelling led them to conclude that Capricornia's meat processing and coal mining firms would be millions of dollars worse off - figures Labor say are "ridiculous assumptions” .
This includes large local employers like Teys Brothers who would be charged $28 million, Baybrick Pty Ltd $75 million, Anglo American $1,618 million and Glencore Holdings who would have to find $1,836 million.
Minister for Energy Angus Taylor declared that this was Labor's hidden carbon tax on everything which they snuck out in their Climate Policy out on Budget Eve hoping it would be forgotten or overlooked in the campaign proper.
"Dozens of Queensland firms employing thousands of Queenslanders will be shocked to learn that they face a massive carbon tax hit under a Shorten Labor Government,” Mr Taylor said.
"These costs do not include the impact of higher electricity prices. For Capricornia households, it is a tax that will feed through to their family budgets - higher costs on almost every aspect of locals' lives - staples like beef, chicken, dairy products, public transport, freight transport, airlines.”
Mr Taylor said the farm sector would bear a burden, jobs would be at risk in Capricornia manufacturing and there would been an impact on our most important export industries.
Labor's Shadow Minister for Climate Change and Energy Mark Butler blasted the government's "dodgy numbers” saying it was "a desperate attempt to cover up his pathetic inaction on climate change”.
Mr Butler said the modelling didn't reflect Labor's policy and were the result of ridiculous assumptions used in an attempt to mislead voters and weren't worth the paper they were written on.
"Modelling that assumes such a high offset price is weird, wacky and wrong,” he said.