So, this proposed new job-killing tax on everything will do what again?

The Bolter returns from holidays: Attention: what threatens Australian jobs and wealth most is not the Opposition’s indecision but the Government’s firm plan. Shoud Labor’s plan for a colossal tax on emissions - a tax that won’t actually cool the planet by a jot - not be the focus of every journalist’s keenest attention instead? Former Treasurer Peter Costello rightly says it would be mad to finalise any emissions trading scheme before December, when the world decides (or, more likely won’t) at Copenhagen what should collectively be done: If the big countries (including developing countries) don’t agree to reduce emissions then nothing Australia does will have the slightest impact on global emissions. The only thing affected will be Australian jobs (which will go overseas) and prices (which will go up). That’s why it’s plain silly to say Australia must finalise the design of its scheme before the negotiations in Copenhagen. The shape of our scheme will not affect what happens there. Copenhagen will determine the shape of our scheme. So what on earth is Kevin Rudd thinking by demanding Australia sets the futile lead? Still, Costello’s message will actually dismay the hapless Malcolm Turnbull most, of course. What an opportunity Turnbull has lost by insisting that emissions trading is to be agreed to, and not fought tooth and nail as a fake solution to a fake problem that will impose a tax on everything and drive Australians out of work. Full post here

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