Kevin Rudd is already reaping more in carbon tax receipts this year than was forecast under Julia Gillard and, if re-elected, by 2016-17 would again be reaping even more again.
Buried in the detail of yesterday’s Economic Statement* is that:
· Kevin Rudd is now estimating $6.435 billion in carbon tax receipts this financial year ($170 million more than the $6.265 billion forecast in May’s budget); and
· the carbon tax is now projected to reap $3.995 billion in 2016-17 ($600 million more than the $3.395 billion projected in May’s budget)
This $770 million in extra revenue, over half of the forward estimates years, further highlights the deception of Mr Rudd’s misleading claims to be getting rid of a carbon tax.
The Economic Statement also re-confirms the 2013-14 Budget projection that the carbon tax will hit $38 by 2019.
Mr Rudd is keeping the carbon tax, the price will go up and within three years he will now reap even more than Julia Gillard expected to.
Far from being terminated, Mr Rudd’s carbon tax is alive and well. Only the name has been changed to protect the guilty.
*see Table 7 on p.35 (compared against Table 7 on p. 5-24 of May’s Budget Paper 1)