Palmer passes carbon tax repeal

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Fuck off you green-lefty scum, it’s over. The carbon price is gone:

Clive Palmer is set to agree to the repeal of the carbon tax but the government may face a fight to abolish related elements of Labor’s clean energy package, with crossbench support for retaining the profit-making Clean Energy Finance Corporation.

Mr Palmer and the three Palmer United senators-elect are due to announce a final position on the carbon tax repeal package on Wednesday at 5.30pm.

…The PUP group, along with its ally Ricky Muir of the Australian Motoring Enthusiast Party, Democratic Labour Party Senator John Madigan and the South Australian independent Nick Xenophon are looking closely at the merits of renewable energy.

There would be enough support for the government to abolish the 20 per cent Renewable Energy Target, despite figures showing consumers would be better off the target was kept, but the CEFC, which has turned a $200 million profit on investing in renewable energy projects, is likely to be retained on current numbers.

Hoocoodanode? that a hugely wealthy mining magnate would rubber stamp the end of a carbon price costing him millions of dollars per year for tipping filth into the atmosphere? It’s quite a surprise.

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The Australian economy is set for a glorious rebound now as the bureaucratic shackles fall away and the mining, manufacturing and consumer sectors are all re-opened for business.

Hold onto your seat people, it’s boom time, baby, BOOM!

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.