Thursday, July 05, 2012

It's Really Not That Big - Part 1

There's been a fair bit of hysteria about the impact of a carbon price here in Austalia, with exaggerated claims about the economic impact leading to false fears. Some even described it as a 'great big new tax'. It's a slogan which rolled off the tongue. But is it actually true? Well, no.

The Australia Institute did this comparison as part of their analysis of the price on carbon. Way down the list, it comes in 9th. Less than alcohol and tobacco tax - and less than insurance tax (which i didn't even know existed).

And of course, it is completely dwarfed by income tax, company tax and the GST. (For international readers, that's Australia's 10% consumption tax on goods and services).

Possibly the only thing 'great' and 'big' about the carbon price (that little red rectangle) was the beat-up that opponents gave it.

[see Part 2]

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