Tuesday, May 31, 2011

That insane carbon tax!

There is a report out today (http://www.miningweekly.com/article/carbon-to-add-r26bn-to-miners-tax-bill-deloitte-2011-05-30/al_id:140404) giving an assessment of the cost of the proposed carbon tax to the mining industry. It reinforces my view that the tax is idiotic.

Why should we wreck our economy when it is North America and Europe that are the big polluters? What happened to the "polluter pays" principle? Among the developed nations, only Europe has inflicted a carbon tax on itself, and that would never have happened without Brussels. Should we really be the only developing nation to commit economic suicide this way?

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