No big savings to come from repeal of carbon tax, industry group warns
The Federal Government has asked for public feedback on legislation aimed at getting rid of Labor's carbon tax.
In its submission, the Australian Industry Group says apart from electricity, many price changes are likely to be limited.
It says many businesses were not able to pass on the cost of the carbon tax in the first place.
The group's chief executive, Innes Willox, says that means price cuts will not be as significant.
"The whole pain of the carbon tax won't go away overnight," he said.
"Consumers will have to accept that business will have to continue to pass through some costs that they have associated with the carbon tax and its leftovers whenever it is repealed."(1)
Hockey's claim prices will go down is pure speculation. Now we at least have an indication profiteering will be prioritised. That's logical, because the enregy sector's been privatised!
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