Senate debates
Wednesday, 16 July 2014
Bills
Clean Energy Legislation (Carbon Tax Repeal) Bill 2014, True-up Shortfall Levy (General) (Carbon Tax Repeal) Bill 2014, True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Bill 2014, Customs Tariff Amendment (Carbon Tax Repeal) Bill 2014, Excise Tariff Amendment (Carbon Tax Repeal) Bill 2014, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Bill 2014, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) (Transitional Provisions) Bill 2014; In Committee
9:38 am
Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source
It is a bit like groundhog day, because I feel like I have answered all of these questions before. Whatever cuddly name the Labor Party or the Greens want to give to a tax, whether it is a fixed price or a flexible price, a tax is a tax is a tax. The coalition went to the last election promising that we would scrap the carbon tax. We are determined to deliver on that commitment, because that is the right thing to do by families, pensioners and the economy as a whole.
In relation to the net cost to the budget of ending the carbon tax with effect from 1 July 2014, it is $7.6 billion over the forward estimates period on an underlying cash balance. That is a benefit that flows straight to families, pensioners and businesses. It will help grow a more prosperous economy moving forward, it will help attract investment and it will help create jobs, because it will help make Australian businesses more competitive internationally.
In relation to all of the other questions, we traversed them in some detail last week and I will refer Senators Singh and Milne to the Hansard record of the debate last week.
Michael Rynn
Posted on 18 Jul 2014 6:42 pm
Abolishing the carbon tax returns the money to fossil fuel burning businesses, particularly coal and gas electricity generators. Instead the government wants to get more money from the health tax, reductions to social welfare, and the tertiary education tax. By definition, a budget 'emergency, true or not, must take in more money, and pay out less. If the government doesn't take it from mining and carbon emissions, it has to come from elsewhere. Net benefit to Australian families and small business is unlikely. Electricity price consists mostly of corporate rent seeking over investment in grid transmission.