Too Little Too Late

[h/t for video to wakeup2thelies]

Great, isn’t it?

As we have seen in last week’s post on the too-high AUD, and again in today’s post on the mining tax, it seems that it is only after a problem is created, only after diabolical, and/or idiotic, and/or treasonous legislation is actually passed into law, that the legislation starts to receive any serious scrutiny and criticism from the “experts”. And, for that criticism to be prominently and neutrally reported by the mainstream media.

From AAP via Business Spectator:

Murray launches attack on ALP policy

The outgoing chairman of the Future Fund has launched a stinging attack on the Gillard government ahead of his departure next week.

David Murray described the carbon tax as the worst piece of economic reform he had seen in his life, warning it would be very bad for the economy.

It would raise costs within Australia and reduce the export competitiveness of energy-related commodities.

Speaking on ABC radio, he also fired a shot at the mining tax, saying it was “clumsily” designed and introduced.

“The timing at the top of the terms of trade was not good,” he said.

UPDATE:

Ummmm … hasn’t the government been tirelessly claiming that households will not be worse off under the CO2 derivatives scam, because of the “compensation” package?

The unions disagree:

Unions want wage increase to offset carbon tax

A group representing the Australian Services Union and Queensland Public Sector Union plans to factor in the cost of the carbon tax during bargaining negotiations with the Queensland government later this year, arguing the tax will raise the cost of living for their members, according to a report by The Australian.

The Together group, representing the two unions, were supporters of the carbon tax, but now say the $8 billion household compensation package would not cover the cost of the carbon tax for their workers.

“They are compensating 60 per cent of people for some of it,” Union secretary Alex Scott said, according to The Australian. “That’s far from full compensation. We want to make sure we don’t go backwards in terms of cost of living.”

The prospect of carbon tax costs factoring into union wage negotiations has sparked growing concerns among employers over fears the new tax will cause a ripple effect that will raise the cost of production and labour beyond expectations.

UPDATE 2:

From the Australian:

OUTGOING Future Fund chairman David Murray has condemned Labor’s carbon tax as “the worst piece of economic reform I have ever seen in my life”.

Mr Murray, who has also lashed the Gillard government’s mining tax, warned the tax would undermine the nation’s competitiveness and damage the economy.

“If you want me to tell you my view, it is the worst piece of economic reform I have ever seen in my life in Australia,” he told ABC radio this morning.

“The consequence of introducing that tax at that level in Australia today is very, very bad for this economy, particularly in terms of international competitiveness.

Tags: carbon tax, CEF, david murray, future fund, MRRT