Tony Abbott, Australia’s prime minister elect, vows to abolish the Carbon Tax which will benefit Australia’s coal industry. The tax went into effect in July 2012, under then-Prime Minister Julia Gillard’s Labor government. Under the carbon tax system, the country’s top 500 polluters are charged $22 for each ton of carbon emitted into the atmosphere. Hooke noted that even before the carbon tax, Australia was still paying ridicules taxes. The carbon tax is a “dead-weight on the economy’ and if Liberal abolish the tax, then the mining companies will have more money to put back into the economy.
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