Australia's carbon tax — no repeal bonanza?

Australia relatively recently introduced a "carbon tax" on emissions of carbon dioxide as an initial step towards a carbon trading scheme. The then opposition Liberal/National coalition complained loud & long about the upward pressure on prices which the carbon tax was alleged to have produced. Late last year, the Liberal/Nationals (whose leader, Tony Abbot, once described global warming as "crap") won an election substantially on a promise to repeal the carbon tax, with a substantial downward impact on consumer prices.

Now industry leaders are claiming that repealing the carbon tax will have little or no impact on prices.

http://www.businessspectator.com.au/article/2013/11/7/policy-politics/no-carbon-repeal-bonanza-0?utm_source=exact&utm_medium=email&utm_content=500899&utm_campaign=cs_daily&modapt= / assorted claim claims past five years Abbott tabloid media Australia Australian Chamber of Commerce and Industry buy buying price prices buy buying electricity bills halved repeal price bonanza business groups industry association ACCI businesses represent sell sale sales Australian Industry Group membership manufacturer manufacture centric manufacturing-centric government AiGroup survey per cent businesses business manufacturing services construction sectors sector pass through on carbon related carbon-related energy cost increases to customers sample pass through cost business businesses total carbon costs estimated passed on to customers customer suggest energy prices price not go down energy prices price risen continue continuing rise other reasons reason particularly large increases electricity network costs dramatic increase in wholesale gas prices proportionate impact remove removing carbon costs not match impact introduction Energy Supply Association coalition government now reduction power bills previous prior government claimed based Treasury modeling modelling Energy Supply Association reduction in prices legislation parliament inform informing direction power bills consumers electricity power prices Australian Food and Grocery Council government community food grocery prices abolish abolishing across the board reduction repealed Business Council of Australia proportion carbon price nature industry contract implication implications government community expectations expectation scale price reductions reduction community community’s expectations expectation impacts impact carbon price based on exaggerated claims elect election elected /