Tony Abbott has picked up the point made here yesterday, that the ETS will simply redistribute wealth with no benefit to the climate:
Speaking after the Government said Treasury modelling showed low-income households would get an average of $610 in cash compensation but would only experience price rises of $420, Mr Abbott questioned the purpose of the scheme.
”When the Government starts talking about 120 per cent compensation for some people, it gives rise to the understandable suspicion that the ETS is not about the environment, it’s really about a political slush fund.”
Mr Abbott called on the Government to release the modelling behind its claims. A Government spokesman said the analysis was based on October 2008 Treasury modelling and updated to reflect the lower carbon price forecast in November’s Mid-Year Economic and Fiscal Outlook.
While it released some detail on the impact on low-income households, the Government has held back on similar information for wealthier households.
Not in the least bit surprised. Taxing the rich is traditional Labor policy.
Read it here.