Four of Australia’s leading business groups have teamed up to call on the Senate to act quickly and repel the Carbon Tax.
Representatives from the Business Council of Australia, the Australian Chamber of Commerce and Industry, the Australian Industry Group and the Minerals Council yesterday released a joint statement in which they point out the negative impact of the Carbon Tax to the country’s economic prosperity and wellbeing.
Australia’s leading business groups are arguing that the country’s carbon tax is one of the highest in the world and most businesses have been unable to withstand the high tax-related costs, making them less competitive on the market.
They said that small businesses in particular had been severely affected by the high Carbon Tax, which had resulted in reduced profitability, suppressed employment and further aggravated the already difficult situation.
“Acting now to repeal the Carbon Tax would boost business confidence and should be part of a broader national push to reduce high energy costs,” the joint statement reads.
“Delaying repeal until the new Senate sits would not achieve anything for the environment. It would simply expose business to increasing and damaging uncertainty over the electricity prices they will be obliged to pay from 1 July 2014. We urge the Senate to repeal the Carbon Tax as soon as possible.”
The statement points out that the negative economic impact of the Carbon Tax on energy prices and jobs was recognized by both major parties and had received bipartisan support for termination at the last election.
The joints statement follows the comments of Virgin CEO, John Borghetti, who said the removal of the Carbon Tax would be the best assistance for the country’s industry, which spends hundreds of millions of dollars to cover the costs imposed on them by the high tax-cost