Aussie federal authorities screams dangerous on gasoline taxes – however nonetheless has to spend billions on local weather safety – watts with it?
Essay by Eric Worrall
Australia’s Albanian government claims revenue is too small to extend a temporary fuel tax cut that saved motorists $6 billion a year – but they still have money to spend $20 billion to upgrade the fuel system spend electricity grid for renewable energies.
‘It’s going to be difficult’: Prime Minister Anthony Albanese admits cost-of-living crisis will worsen ahead of fuel price hikes
Ahead of an expected interest rate hike and fuel price hike, Anthony Albanese has acknowledged the coming months will be difficult for many Australians.
Joseph Huitson Digital Reporter
September 5, 2022 – 10:45 am
Prime Minister Anthony Albanese has admitted that the end of the fuel excise tax cut will further exacerbate the skyrocketing cost of living Australians are facing.
The former coalition government announced temporary six-month fuel excise tax halving – which was 44.2 cents a liter – during the March budget amid rising petrol prices.
The measure, which ends on September 29, will increase the consumption tax again by 22 cents.
Ahead of a new week of parliamentary sessions, Mr Albanese said the cut announced in the budget had bipartisan support, noting it was a “difficult decision” to end it.
Read more: https://www.skynews.com.au/australia-news/politics/it-will-be-difficult-preme-minister-anthony-albanese-concedes-cost-of-living-crisis-will- worsen -before-the-fuel-price-rise/news-story/0aed81b0cacbe311cc33509b3d383521
The plan calls for spending US$20 billion or US$2.5 billion per year over 8 years to upgrade the green power grid. The temporary fuel excise tax cut, which cost the government $6 billion a year (half of the $12 billion raised annually), saved Australians $0.22 a liter ($0.81 a gallon) of fuel.
So if the government cancels the green electricity grid upgrade, according to these figures, the savings could fund a permanent $2.5 billion a year fuel tax cut, saving Australians $0.22 ÷ $6 billion. dollars x $2.5 billion = $0.09/liter or $0.33 gallon.
$0.09/liter or $0.33/gallon might not seem like a lot to some people, but that cost crops up in a lot of places — the cost of getting groceries delivered to supermarkets, the cost of shipping pretty much everything. If people fill up their car with 50L of fuel once a week, Big Green’s subsidy is an additional $4.50 they have to pay for their gas.
That $4.50 per week is the cost of a home-cooked, inexpensive family meal (lentils, a small chicken, a portion of frozen veggies, a bouillon cube, and garlic), 2/3 the cost of a subsidized doctor’s prescription, or over 3 months, a significant one Part of the cost of skyrocketing energy bills for low-income families has to be paid.
Perhaps worst of all, the fuel tax is helping to push up mortgage rates. Fuel costs are a major source of inflation. The Australian Reserve Bank is raising mortgage rates to try to stem rising inflation, largely caused by skyrocketing energy costs. This additional fuel tax money Albanese plans to add upward pressure on inflation and mortgage rates. The strength of inflationary pressures and the resulting level of imminent peak in mortgage rates could determine whether struggling young families are able to hold on to their new homes during the coming economic downturn.
We Australians are all paying more for pretty much everything because of our green-left government’s fantasies about renewable energy. Sooner or later, when the utter failure of our government’s net-zero plans becomes apparent to all, our politicians will have to foot the bill for the increased costs and hardships they recklessly imposed on voters.