Policy Alternatives , Policy Alternatives Australia

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Carbon taxes ..Mining Taxes..in Australia

Posted by ALEX TEES on February 28, 2011 at 5:27 AM

it’s possible to pick out some consequences in advance. Such as the further distortion of the Australian economy. You don’t have to precisely know how people and markets will interact to know that a carbon tax will make the Australian economy even more lopsided. Although we’ll admit there will be other consequences we haven’t considered too.

Bloomberg News reports the comments made by Bluescope Steel CEO Paul O’Malley:

“This is clearly economic vandalism. It clearly says we don’t want manufacturing in Australia.”

Mr. O’Malley is talking his own book. He has a vested interest. But he’s also completely right.

Government red tape and trade unions have already succeeded in banishing productive industry from Australian shores.

And now government taxes and Green Party socialist statism is set to banish the rest of the Australian manufacturing offshore.

What’s left?

A huge mining sector that is left to prop up the economy. And a huge services sector which serves as the outlet for people to spend the credit created by the banks from the mining sector.

There’s nothing in between. And of course, if the government and Greens have their way, there won’t be much left of the mining sector if the “super profits tax” is revived.


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