post from www.asxguru.com.au

here's something interesting
May 22, 2011Comments Off
Carbon Tax Will Cost JobsCategories: Sundry
Back in April I posted about an article that alluded to the possibility of the carbon tax actually leading to the increase of pollution as heavy carbon emitting industries pack up and move offshore. Not only that – a significant number of Australian jobs will be lost as well!

Those who support the carbon tax have preached about the new economy and how the tax will lead to job creation and new opportunities. This sort of talk is just that – talk! The reality will most likely be that entire sectors of industry will fold up their operations and move offshore. With that will go thousands of jobs.

At the beginning of this week, supporters of a carbon emissions tax were heralding the news of a substantial increase in carbon reduction targets from Britain. But then just a few days later, the consequences of that decision became clear with one of the world’s largest steel produces Tata Steel deciding to cut 1,500 in Britain.

This article from The Australian reports on the development and to quote from it;

Karl-Ulrich Kohler, Tata Steel’s head of Europe, blamed the cuts on the decline of the construction industry, but added that new EU environmental laws and planned British legislation had compounded the company’s problems.

“Europe’s steel industry is in danger of being made uncompetitive in the world market because of European taxes on UK emissions,” said Dr Kohler.

“But here in Britain we are facing a double whammy of carbon targets.”

Under the coalition deal, the government plans to bring in the toughest carbon emissions targets in the world by 2027. The EU has already said that member states must slash emissions, but Britain will go farther and cut them by 80 per cent by 2050.

Godfrey Bloom, the UKIP MEP in whose Yorkshire & North Lincolnshire constituency the Scunthorpe cuts will fall, said the “misguided” carbon legislation had made “a bad commercial situation far, far worse”.

He added: “Certain extra costs and additional targets are clearly undermining business confidence. The result, as we see, is lost jobs.”

We are seeing the very same message from sectors of Australian industry – warning of the dire consequences.

ref www.asxguru.com.au









Remember we are not financial advisors.. Sampson management Services (SMS) educate and inform only...We are Assett Management Consultants- we teach you about risk and how to measure that risk according to the international standards on Quality, Environment, OHS, and Risk management in an integrated approach. Ref standards: AS/NZS/ISO 9001, AS/NZS/ISO 14001, AS/NZS/ISO 4804, AS/NZS/ISO 4360.

re current falls.

I have decided that the second wave of the Global financial crisis is now upon us. It's a hold and take no risks mentality at the moment.
The Dow and the aussie all ords are below the lowpoint. Yesterday was the lowest in 10 weeks.

Hold and fold your money till after August when the US will go begging to congress for more money... their 14 trillion is now all used up!

Greece, Spain, Italy are in trouble.. well, they don't believe in paying income tax, so how is their governement(s) going to repay!

Germany might hold the purse strings, but Spain has regularly defaulted over the years. So what's new?

So hold your positions. Maybe it will work out in another year. It is not looking good. Mega


Remember we are not financial advisors.. Sampson management Services (SMS) educate and inform only...We are Assett Management Consultants- we teach you about risk and how to measure that risk according to the international standards on Quality, Environment, OHS, and Risk management in an integrated approach. Ref standards: AS/NZS/ISO 9001, AS/NZS/ISO 14001, AS/NZS/ISO 4804, AS/NZS/ISO 4360.