The next Australian election is coming mid year (the pollsters are calling)
The Labor opposition in Australia is doing its best to tempt us with promises they can improve the weather. They say they’ll make us rich and popular too. But a former big-wig in the Australian bureaucracy thinks the bill for that will leave a third of a million people unemployed, and cost nearly half a trillion dollars.
The Labor opposition in Australia wants to make our hair-shirt 26% target into a bed of nails at 45%.
by Simon Bensen, The Australian
Labor’s 45 per cent emissions-reduction target would push electricity prices 50 per cent higher, cost workers up to $9000 a year in lower wages and wipe $472 billion from the economy over the next decade, according to the first independent modelling of the energy policies of both the government and opposition.
The Liberal (erstwhile conservative party) wants to spend $70bn on weather control.
The Coalition’s commitment to meeting a 26-28 per cent reduction under the Paris Agreement would also come at a cost, with $70bn in cumulative economic losses by 2030 and a 2 per cent hit to real wage growth.
The Labor plan will cost around 330,000 jobs, the Libs 80,000 jobs. Unless Australians manage to vote for another party entirely, or do an AusExit from our own government, that’s a whole lot of people sitting around watching cat videos.
Brian Fisher used to manage ABARE — The Australian Bureau of Agriculture and Resource Economics. He’s also been an IPCC reviewer. He’s frustrated at our dishonest debate (the one that implies we can do the weather changey plan for free as an add on like a Happy Meal). He estimates our GDP will be $144b smaller each year by 2030.
But hey, it’s only money.
And in fairness, the Labor policy will “only” cost $400 billion more than the Liberal Policy.