Reports send a mixed message

Andrew Fraser
Andrew Fraser Dave Noonan

TWO reports have given mixed messages on how carbon pricing will affect Queensland's economy, with one predicting 2.76% less growth in 2020.

The Deloitte Access Economics analysis, released yesterday, the same day as Queensland Treasury modelling, showed gross state product would only suffer a drop of 0.4% by 2020.

Treasury's modelling shows average economic growth during the next 10 years would be 3.5%, with or without a carbon price.

But there were no surprises when it came to local reaction to the report.

“This is just one bad Labor Government supporting another,” Member for Dawson George Christensen said.

“The reality is that Mackay families will immediately pay at least 10% more on their electricity under the carbon tax and when diesel transport is included in two years time, every single thing you can spend your money on including household groceries will cost more through electricity and freight.

“Even charities and not-for-profit organisations will be stung with the carbon tax.”

RACQ-CQ Rescue general manager Phillip Dowler was concerned about the financial hit the carbon tax could have.

“We estimated that the carbon tax could have an impact of $20,000 per year on top of what we're already paying... based on our aircraft fuel consumption and electricity,” he said.

Mackay Greens representative Jonathon Dykyj backed the Treasurer, saying: “We need to take action on climate change, which is the whole point of the package.

"We agree that the carbon price won't be an absolute catastrophe for us as the Opposition is making out.”

Mr Fraser said employment growth would be impacted by 1% to 2050 under the carbon plan; mining growth would be 1% less to 2019/20; and potential growth in coal would be 7.9% lower by 2049/50.

Deloitte Access Economics says gross state product will be 2.76% lower at 2020 and 4.11% lower in 2050 under a carbon price.

Topics:  carbon pricing reports statistics

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