Surprise: Aussie Carbon Tax Contributes To Business Insolvencies

One would think that Australia’s politicians would have gotten the hint that their “carbon tax” and cap and trade programs are really, really, really unpopular after the Queensland elections in early 2012, where the Labor Party, the major force behind all the legislation, was reduced from the the leader party to not having enough seats in Parliament to be considered a recognized political party. Alas, no, they want to continue down this stupid “green” path, which is contributing to companies going under

(Daily Caller) As U.S. lawmakers debate imposing a tax on carbon dioxide emissions, evidence is emerging that Australia’s carbon tax has hit businesses hard.

News Limited Network reported the country’s carbon tax was contributing to a record number of firms facing insolvency. Data from the Australian Securities and Investments Commission showed that a record 10,632 businesses faced insolvency for the 12 months to December 31 2012 – up from 10,481 for 2011.

Australia’s largest manufacturing firms asked the central government to scrap the nation’s carbon tax as it disadvantages local companies that are attempting to compete on a global market.

Looks like the carbon tax will reduce CO2 output by helping companies go out of business, leaving manufacturing idle and Aussie’s sitting on the couch jobless and without the money to pay for electricity.

Origin Energy managing director Grant King said that the carbon tax as well as other green programs made up as much as 30 percent of small and medium sized businesses’ electric bills.

Warmists do not care, they are saving Gaia from a minor increase in global temperature, and rather than practicing what they preach, they force everyone else to suffer.

Australia’s tourism industry has also been impacted by carbon pricing. A study commissioned by Tourism Accommodation Australia says the carbon tax will add $115 million in costs to hotels and motels.

Those costs will go directly on the consumer. Well, in those cases where it’s allowed, since parts of the law make it illegal to pass on some costs to consumers. The companies have to eat the costs. All supposedly to stop the mostly natural cycle of being in a warm period.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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