It can be read here (pdf) if you have the stomach for it.
This will be achieved without new or increased taxes on Australian industries or increased costs to Australian households and families.
This is the key phrase in the entire policy. The question then becomes how will they pay for the policy? After all another statement is:
Our policy will cost $3.2 billion over 4 years, while the ETS costs $40.6 billion over the first four years.
So Abbott’s policy is to find $3.2 billion over 4 years, that’s $800 million a year without any new taxes and without any increased costs. Surely this shows Abbott and perhaps the Coalition itself are living in a fantasy land.
Barnaby Joyce, Shadow Finance Minister gives the game away on Lateline:
LEIGH SALES: Tony Abbott says the Coalition needs to find $3.2 billion over four years in the Budget to find this. As Finance Minister, where will some of those savings come from?
BARNABY JOYCE: A whole range of issues. I’m too willing to drill into the figures, but let Mr Swan show me the mechanism of how we are going to do it.
Tony Abbott’s Coalition will find “those savings” by cutting back expenditures in other areas of the Budget but they are incapable of saying where as Senator Joyce makes clear. It does not matter where in the Budget these expenditures are cut, it will result in “increased costs to Australian households and families.”
The only way this proposal and the other proposal in Abbott’s Environment and Climate Change policy can be made tenable is by deficit spending. Tony Abbott has all ready argued against the current stimulus spending which has taken the budget into deficit as has Barnaby Joyce.
So, either the policy is not credible or the coalition is ignorant to the hypocrisy within their policy.