Financial Standard Comments - Carbon blast from the GST past

Comment by James Adelaide ()

James Adelaide () — Tue, 12 Jul 2011 12:00:49 +1000

I agree, like the GST, lots of bluster and noise, but after it has been bedded down, we will wonder what the fuss was about

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Comment by Concerned ()

Concerned () — Tue, 12 Jul 2011 14:33:02 +1000

Benjamin is correct in his assessment that the sky will not fall in, despite the protestations of many business leaders who have demonstrated their sustained ability to scream 'Armageddon is Nigh!!...Now where's my Compo?' but not contribute much else in the way of leadership or vision to the nation, let alone shareholders.
Yes our direct contribution to firstly stabilising and then (hopefully) reducing global emissions is comparatively small. But each step we take provides an example to other nations wrestling with this issue and strengthens our push for stronger global action. Lastly a carbon price signal does help (however imperfectly) to push our economic development in a sustainable direction and lowers long term domestic costs of action.
Whilst the debate is riddled with conflicts and vested interests, it is really not that confusing when it comes to the basics:
The weight of cogent international scientific opinion theorises that human activities are warming the planet.
As more study and analysis is undertaken it progressively strengthens the validity of this theory.
Whilst absolute certainty can never be assured it is prudent and reasonable to undertake some risk analysis and risk mitigation.
A rigourous application of the above would lead a reasonable person to the conclusion that action is required.
The downside of not taking that action is very serious and and possibly irreversable, according to the above scientific opinion.
Other views are to the contrary and responses range from favouring inaction, miniscule action or delay till everyone else takes action.
Do the contrarian views have merit, do they sufficiently off-set the potential risk?
Since we are all possibly betting the house (read planet) on being right or wrong, to answer Benjamins question above-Yes there is a point to all this.

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Comment by John M Mccrory ()

John M Mccrory () — Tue, 12 Jul 2011 15:11:02 +1000

Strange that you forgot to mention that after "Howard also promised to "never, ever" introduced GST when he was campaigning for the PM job at the 1996 elections." he had the intestinal fortitude to go to the 1999 elections clearly stating that he would. He did not about face without telling the people first.

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Comment by Spud ()

Spud () — Tue, 12 Jul 2011 16:22:12 +1000

I thought the GST was meant to replace some other taxes such as sales tax so net impact on prices was negligible. The carbon tax just seems like another tax to heap on top of the others.
Atleast our kids will breath fresher air..............so long as they don't travel outside of Australia......................which will be more expensive............so it works?

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Comment by Concerned ()

Concerned () — Mon, 18 Jul 2011 11:41:37 +1000

Spud, cleaner air works for everyone. If we (Australia) one of the richest and most economically blessed countries in the world,with one of the highest levels of emissions per head of population can't make this step, how can we expect other nations to act?
The point of the tax (and the ETS to follow) is to begin to place a cost on emissions. It will not of itself immediately reduce emissions, no single action by any country will, there is to much momentum inbuilt into the system.
The objective is to lower the trajectory of global emissions growth, stablise and then reduce, but this process will take many decades if not longer.
The Australian people need to bring some long term thinking into this, longer term meaning looking well further than speculating on who they think will be in the finals of the footy this year.
A few dollars here or there is a small price to pay, leadership never comes easy, concentrating on the big picture helps us as a nation and helps others.
Punching above our weight or dragging the chain, making a small sacrifice in our hip pocket, or whinging about a few $, what kind of Australia are we?

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