CHAMBERS OF COMMERCE DEMAND CARBON TAX REPEAL

Written on the 20 July 2012

CHAMBERS OF COMMERCE DEMAND CARBON TAX REPEAL

BUSINESS representatives from each sector of the Australian economy today urged the Federal Government to reverse its new carbon tax.

In a resolution passed by the Australian Chamber of Commerce and Industry’s (ACCI) general council in Brisbane, more than 300,000 employers renounced the $23 a tonne price on carbon as “futile” and poorly timed.

“It is a particularly bad time for the economy as manufacturing, construction and retail remain vulnerable without the further burden of a carbon tax,” says economics and industry policy director Greg Evans (pictured).

“We are seeing very slow levels of business and consumer confidence with 80 per cent of the economy experiencing very subdued trading due to continuing international instability.”

ACCI’s latest survey of investor confidence backs this view, showing profitability fell to historically low levels in the past 12 months.

“Consumers prefer to reduce debt than spend. Business margins have been squeezed since they have very little pricing power and face escalating wages and energy prices,” says Evans.

“Manufacturing and other industries are under so much pressure that job shedding is taking place. Even when employment levels are unaffected, businesses may defer or divert investment – forgoing sale opportunities.”

ACCI suggests microeconomic reforms to reduce structural adjustment costs of the carbon price and adverse impacts on competitiveness – and costs imposed on small to medium enterprises.

Read the essential guide on how to avoid any gloom associated with the new Carbon Tax by getting your copy of Gold Coast Business News magazine – at newsagents now.


Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter