Scott Morrison misleads the public on the costs of Labor’s climate policy
Scott Morrison warned on ‘cherry-picking’ $35 billion climate cost, SMH, 22 Apr 19 The election fight on climate change has sparked warnings against “misleading” voters about the cost of cutting greenhouse gas emissions, as an independent researcher repudiates Coalition claims of a $35 billion hit from Labor policies.
Prime Minister Scott Morrison has been accused of “cherry-picking” numbers in the escalating row over the competing pledges on climate, as he prepares to release new estimates of the economic impact of the Labor carbon target…….
The head of the Department of Prime Minister and Cabinet, Dr Martin Parkinson, has responded to the climate dispute by warning against the “misleading” use of economic modelling and assuring Mr Shorten the public service has not costed the Labor policy.
The research company cited in the government’s $35 billion claim, Bloomberg New Energy Finance, has also told The Sydney Morning Herald and The Age that the figure was “not a credible estimate” of the cost of buying international carbon permits.
“To come up with this number, the government has taken the highest point in our 10 year forecast for European carbon credits and assumed 50 per cent of Australia’s abatement for the next decade is bought at this price,” said Bloomberg NEF global head of special projects Kobad Bhavnagri.
“It takes the highest instantaneous forecast price, in the most expensive market, to come up with the biggest number.
“It’s like saying petrol is going to cost you $10,000 this year by assuming you buy everything in one go on Boxing Day.”…….. https://www.smh.com.au/politics/federal/scott-morrison-warned-on-cherry-picking-35-billion-climate-cost-20190421-p51fye.html?utm_source=newsletters&utm_medium=email&utm_term=SMH+AM+News
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