According to the Australian Federal Government Treasury modelling the introduction of a carbon tax will reduce Australia’s National Income. How much will it be decreased by over the 38 years to 2050?
The Treasury modelling predicts that GDP (Gross Domestic Product) will be 2.8 per cent lower in 2050 than it would have been without a carbon tax. Doesn’t seem much, only 2.8%? Well try adding the reduction in GDP over the 38 years and you get $1.35 trillion dollars.
That is what it will cost Australians over the next 38 years more than one trillion dollars in lost income.
Imagine how many hospitals, roads and schools could be built over the next 38 years with that $1.38 trillion dollars?