New Carbon Tax Figures Reveal Favourable Outcomes for Australia
The Federal government released a new carbon tax figures on September 21st regarding its possible effects on the economy, Australian families and job growth. The figures showed that the tax would only reduce a family's take home income by 0.1% annually.
The figures released was based on the proposed starting carbon price of $23 per ton which is almost identical to the original figures released using a $20 price. Treasurer Wayne Swan said that the carbon tax will grow the average income of an individual by 1.1% to 2050 which is 1% higher than the tax's impact of 0.1% annually to 2050.
He also added that the economy will grow under a carbon price and that a 1.6 million job growth is projected by 2020 in conjunction with the country's renewable energy target of 20% national clean energy use.
The implementation of carbon tax on July 2012 will begin the taxing the country's top 500 polluters on a $23 per ton scale. PM Gillard has stated that this will bring about change in almost all industries and will push polluters to invest into renewable energy alternatives.
Currently the carbon tax is being pushed through parliament, and as soon as the tax is legislated experts believe that it will bring a whole new life in the renewable energy industry. This will be welcomed by all involved, especially in the solar PV industry which has been heavily affected by recent feed in tariff uncertainty.
The tax will provide considerable funding for new large scale renewable energy projects across the country and encourage the overseas investment which is crucial to take clean industries to the next level in Australia. A large number of new green jobs will be created in the process.
The carbon tax has been a sensitive and maligned issue in the country, but many of the fears stem from incorrect facts. Hopefully the projected financial effects released by the treasurer will reassure the majority of the population that in the long term the price on carbon will prove beneficial to the economy, to our environment and to an average Australian families cost of living.
The Australian Government's recent attempts to convince the public of the benefits to them of the carbon tax have been largely unsuccessful due to a lack of concrete data to back it up. But finally this week some strong leadership and straight talking has helped their cause. During a meeting in Canberra Treasurer Wayne Swan stated categorically that based on extensive modeling projections Australia's economy will become richer despite the instigation of a carbon tax. He also said that an average Australian family will increase earnings by about $8000 within the next few years.
As a result of the carbon tax the $8000 dollar mark will continue to increase by more than 300% by the year 2050 and so on. The federal government's treasury number crunchers have also estimated that more than 1.5 million jobs will be created by 2020, all of which are related to green projects that are expected to mushroom with the extra investment dollars the carbon tax will ensure. The Treasurer said that the country will be able to progress even further with these new industries, while making deep cuts to our carbon emissions at the same time.
While many still oppose the carbon tax, the Gillard administration found valuable support from seven of the most prominent people in the country. Victorian governor Professor David de Kretser and philanthropist Dame Elisabeth Murdoch signed an open letter saying that Australia must not allow progress to be "thwarted again". The letter, co-signed by guru Peter Cundall and four former Australians of the year - Sir Gus Nossal, Ian Kiernan, Dr Fiona Stanley and Professor Patrick McGorry, says that our nation is at a critical point right now and that it is time to build a cleaner and better future for the next generation.
Currently the carbon tax is still on debate from all aspects starting from whether it is really needed, what the necessary starting price is and where should the revenue be directed. Recent surveys shows that many Australians want the country to be 100% renewable, however they haven't necessarily accepted the fact that long term projects and a sustainable future for renewables can only be achieved with carbon pricing.
The figures released was based on the proposed starting carbon price of $23 per ton which is almost identical to the original figures released using a $20 price. Treasurer Wayne Swan said that the carbon tax will grow the average income of an individual by 1.1% to 2050 which is 1% higher than the tax's impact of 0.1% annually to 2050.
He also added that the economy will grow under a carbon price and that a 1.6 million job growth is projected by 2020 in conjunction with the country's renewable energy target of 20% national clean energy use.
The implementation of carbon tax on July 2012 will begin the taxing the country's top 500 polluters on a $23 per ton scale. PM Gillard has stated that this will bring about change in almost all industries and will push polluters to invest into renewable energy alternatives.
Currently the carbon tax is being pushed through parliament, and as soon as the tax is legislated experts believe that it will bring a whole new life in the renewable energy industry. This will be welcomed by all involved, especially in the solar PV industry which has been heavily affected by recent feed in tariff uncertainty.
The tax will provide considerable funding for new large scale renewable energy projects across the country and encourage the overseas investment which is crucial to take clean industries to the next level in Australia. A large number of new green jobs will be created in the process.
The carbon tax has been a sensitive and maligned issue in the country, but many of the fears stem from incorrect facts. Hopefully the projected financial effects released by the treasurer will reassure the majority of the population that in the long term the price on carbon will prove beneficial to the economy, to our environment and to an average Australian families cost of living.
The Australian Government's recent attempts to convince the public of the benefits to them of the carbon tax have been largely unsuccessful due to a lack of concrete data to back it up. But finally this week some strong leadership and straight talking has helped their cause. During a meeting in Canberra Treasurer Wayne Swan stated categorically that based on extensive modeling projections Australia's economy will become richer despite the instigation of a carbon tax. He also said that an average Australian family will increase earnings by about $8000 within the next few years.
As a result of the carbon tax the $8000 dollar mark will continue to increase by more than 300% by the year 2050 and so on. The federal government's treasury number crunchers have also estimated that more than 1.5 million jobs will be created by 2020, all of which are related to green projects that are expected to mushroom with the extra investment dollars the carbon tax will ensure. The Treasurer said that the country will be able to progress even further with these new industries, while making deep cuts to our carbon emissions at the same time.
While many still oppose the carbon tax, the Gillard administration found valuable support from seven of the most prominent people in the country. Victorian governor Professor David de Kretser and philanthropist Dame Elisabeth Murdoch signed an open letter saying that Australia must not allow progress to be "thwarted again". The letter, co-signed by guru Peter Cundall and four former Australians of the year - Sir Gus Nossal, Ian Kiernan, Dr Fiona Stanley and Professor Patrick McGorry, says that our nation is at a critical point right now and that it is time to build a cleaner and better future for the next generation.
Currently the carbon tax is still on debate from all aspects starting from whether it is really needed, what the necessary starting price is and where should the revenue be directed. Recent surveys shows that many Australians want the country to be 100% renewable, however they haven't necessarily accepted the fact that long term projects and a sustainable future for renewables can only be achieved with carbon pricing.
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