Moncrieff Media
Labor’s ETS to cost the Coast $278 million
21 July 2009
Gold Coast would lose over $278 million in industry output and more than 1100 jobs by 2025 under Labor’s proposed emissions trading scheme (ETS), according to a leading industry forecaster.
Local MP Steven Ciobo says the Labor Government’s current ‘Carbon Pollution Reduction Scheme’ (CPRS) is being pushed through Parliament, leaving Australia, and particularly the Gold Coast, vulnerable.
“Forcing the proposed emissions trading scheme onto local businesses in such tough economic times can only spell disaster for the Gold Coast economy,” Mr Ciobo said.
In terms of lost economic output, the Gold Coast is the second-biggest loser in the state, with expected losses of more than $278 million by 2025 across a variety of key industries.
“The Coalition is urging the Labor Government to reassess the CPRS and its fundamental flaws to prevent further damage to the Gold Coast economy.”
According to the Access Economics report, the Gold Coast will also lose over 1100 jobs if the proposed CPRS scheme goes ahead.
“Kevin Rudd is forcing the CPRS to be passed by Parliament without acknowledging the severe ramifications for Gold Coast industry,” Mr Ciobo said.
The CPRS scheme seeks to put a limit on how much carbon a business or household can emit.
However, neither businesses nor environmentalists fully support the ETS scheme in its current form.
Environmentalists are equally dissatisfied with the effectiveness of the CPRS saying it does not go far enough to cap carbon emissions. Businesses are concerned with the long-term costs of prematurely implementing the flawed CPRS.
“The Coalition will look to make modifications that will improve the proposed ETS scheme, in order that the negative affects on Gold Coast businesses may be limited,” Mr Ciobo said.
“Gold Coast businesses cannot absorb the negative outcomes of this hastily put-together scheme, especially when we are in such tough economic times already.
“Rebuilding the local economy in appropriate and adequate measures should be the Rudd Labor Government’s main priority – instead it is only securing major industry loss for the Gold Coast by pushing the CPRS.”