Kinglsayer executes carbon price

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The news this morning is that the Kingslayer is moving to fell another former ally. From the SMH

Labor is expected to support axing the carbon tax, with senior figures – including leader Bill Shorten – now convinced that its case for action on climate change is more easily sold if the politically ”toxic” tax is abolished.

The Opposition has been wrestling with the repeal of the tax, with some saying it must hold the line to show voters and demoralised supporters it still stands for something. But party leaders have progressed their thinking to consider what the party will put to voters in the lead-up to the next election.

They argue that Labor proposed to ”terminate” the tax at the election and to simply block its repeal would allow the government to continue to punish it politically.

Ah yes, it’s for the en-vi-ron-ment! Except for the polling:

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…John Scales from JWS Research said polling showed that the carbon tax had dominated the climate change debate in recent years and undermined support for action.

Even on a purely political calculus this makes no sense to me. The carbon price is going to die next July anyway via our coal overlord. Why put Labor finger prints on the guillotine?

It’s hello Kingslayer and goodbye conviction!

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.