Malcolm Turnbull is attempting to discredit Labor’s new emissions plan. Here are six reasons the government’s campaign is wrong
1. The prime minister says that by promising to cut emissions by 45% by 2030, rather than 26% to 28% (as the government has pledged) Labor is “doubling the burden” on Australians. But modelling commissioned by the Coalition from leading economist and former Reserve Bank board member Warwick McKibbin showed that a 45% cut would shave between 0.5% and 0.7% from gross domestic product (GDP) by 2030, whereas a 26% cut would shave between 0.2 and 0.3%. In other words the difference in the economic cost of the Coalition’s target and Labor’s target is about 0.3% of GDP in 2030. That’s 0.3% of an estimated GDP of over $3.5 trillion. It’s not hard to work out that is not doubling an economic burden.
Source: Guardian Environment