Australian Labor’s ‘Biggest Carbon Tax’ Will Cripple Businesses, Opposition Argues

Australian Federal Energy Minister Chris Bowen speaks to media following an energy ministers meeting in Melbourne, Australia, on Oct. 28, 2022. AAP Image/Diego Fedele

The Opposition has warned that the Australian federal government’s new “carbon tax” will come at a heavy cost for businesses suffering from the cost of living crisis.

Under the centre-left Labor government’s new safeguard—which the previous centre-right Coalition government introduced—Australia’s biggest polluters will be required to reduce their net emissions by almost 35 percent by 2030.