Four of Australia's leading business groups are calling on the Senate to swiftly repeal the carbon tax.
In a joint statement, John Osborn, COO, Australian Chamber of Commerce and Industry, Innes Willox, Chief Executive, Australian Industry Group, Jennifer Westacott, Chief Executive, Business Council of Australia and Brendan Pearson, Chief Executive, Minerals Council of Australia, say the tax is making our key industries less competitive every day it stays in place.
Australia's carbon tax is one of the highest in the world.
Most businesses have been unable to pass their carbon tax-related costs on to customers, the business leaders said.
“For small business especially, this has been a major burden that has reduced profitability, suppressed employment and added to already difficult conditions.
“The negative economic impact of the carbon tax on energy prices and jobs is recognised by both major parties. That is why there was bipartisan support for the 'termination' of the carbon tax at the last election.”
Many cross-bench Senators were also elected on a platform of repealing the carbon tax. But timing makes all the difference.
“Acting now to repeal the carbon tax would boost business confidence and should be part of a broader national push to reduce high energy costs, they said.
“Delaying repeal until the new Senate sits would not achieve anything for the environment. It would simply expose business to increasing and damaging uncertainty over the electricity prices they will be obliged to pay from July 1, this year.
“We urge the Senate to repeal the carbon tax as soon as possible.”