Modelling released today has confirmed that Labor’s reckless emissions reduction target will be a wrecking-ball through Bonner’s economy.
The work, released by BAEconomics’s Managing Director Dr Brian Fisher, shows that Labor’s 45% Emissions Reduction Target and 50% Renewable Energy Target will:
- cost the economy $472 billion,
- slash more than 336,000 jobs,
- cut the average wage by over $9,000, and
- increase wholesale electricity prices by more than 58%.
This is further proof that under a Bill Shorten Labor government, families and businesses in Bonner will be poorer. Bill Shorten says Australians deserve a pay rise. Instead, he is promising them a massive pay cut.
Member for Bonner Ross Vasta said under Labor, families and businesses in Bonner will pay more.
“Local families will be forced to pay more for basic necessities like food, housing, energy and transport and it will be harder for locals to find and secure a job under a Shorten Labor government. “
“Labor’s targets will send energy-intensive industries overseas, where they will face less stringent environmental and safety regulations, driving global emissions up.”
“Bill Shorten has never come clean with Australians about the true damage of Labor’s reckless targets on household budgets, small businesses, wages, industries and local economies. Now we know why, said Mr Vasta.”
“People in Bonner have a right to know the truth about Labor’s targets,” Mr Vasta said.
“Under Labor’s targets, wholesale electricity prices will increase by more than 58%.”
Labor’s reckless targets will punish Australian families already struggling with cost of living pressures, and destroy the industries that have made our economy strong.
Only the Morrison Government has a sensible and balanced plan for meeting our emission reduction commitments. Only the Coalition can be trusted to keep our economy strong, to bring power prices down, and keep the lights on.