Onionplay co apk12/28/2023 ![]() ![]() Now, the industry that is driving the country has been hit with a third cost. “For coal miners it’s a bit of a triple whammy coming on the heels of the mining rent tax and the high Australian dollar. Under the carbon tax package, the minerals industry will face costs of $25 billion between 20.”ĭYLAN BYRNE, PARTNER, HEAD OF NATIONAL SUSTAINABILITY ADVISORY GROUP, BDO ACCOUNTING Australian industry is being hit with the world’s biggest carbon tax to fund a package that will not reduce greenhouse gas emissions. The design of this new tax scheme is wrong. “It will impose the highest carbon price in the world, compromising the competitiveness of Australia’s export and import competing sectors without environmental benefit. We have consistently advocated for a scheme that protects all exposed export industries, invests in low emission technologies and provides a phased introduction with clear longer term emissions reduction targets.” MITCH HOOKE, CEO, MINERALS COUNCIL OF AUSTRALIA ![]() “We support action on climate change but are disappointed at the government’s lack of genuine consultation with the community, business and the Government’s Multi Party Committee on Climate Change in designing the package announced today. MINING JAMES RICKARDS, SPOKESMAN, XSTRATA COAL On mining and metals stocks, such as Rio Tinto, BHP Billiton, OneSteel and BlueScope: “I don’t think there’s anything that’s been announced today that would cause significant concerns,” he said, noting much of the new policy had already been priced into the market. He listed likely beneficiaries of the tax cuts as JB HiFi, Harvey Norman, Myer and David Jones. The consumer discretionary sector has been an underperformer for the last six months on the back of higher rates and a more frugal consumer”. “You might expect the discretionary consumer stocks to relatively outperform on the back of the tax cuts. “This is a very positive step for the global carbon market, that Australia going to introduce a reasonably robust carbon price and it is going to link to international markets within three years.”ĭAVID LIU, RESEARCH HEAD, ABOVE THE INDEX ASSET MANAGEMENT He said Bluescope Steel might be able to offset some or all of its carbon liability through the new innovation and production fund for the steel sector. There are some companies that are mid-carbon that are going to come out ahead and Origin and AGL are ones for us that given their relatively low emissions generation portfolios and the fact that their small exposure to brown coal will probably get compensated by the government.” So the impact will be quite hard of them. “Our transport analysts are of the view that airlines will struggle to pass on the full cost of carbon in ticket prices. COMMENTARY MARKETS TIM JORDAN, ENVIRONMENTAL MARKETS ANALYST, DEUTSCHE BANK To spend A$9.2 billion to help heavy polluting industries like steel and aluminum, and close dirtiest power stations. Aims to cut carbon pollution by 159 million tonnes by 2020 or by 5 percent based on year 2000 levels. Tax to take effect mid-2012 before moving to a carbon-trading system in mid-2015 SYDNEY (Reuters) - Australia unveiled plans on Sunday to slap a carbon tax of A$23 a tonne on its 500 worst polluters from 2012, sweetened by tax cuts for voters fearing higher power bills, and paved the way to adopt the largest emissions-trading scheme outside Europe. ![]()
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