If MacGen survives, your power bill will be greatly affected. Whether MacGen survives or not, your state taxes will have to increase. Last year MacGen returned $200 million to NSW state coffers.Today, The Australian reports
Queensland Resources Council chief executive , Michael Roche said taxpayers could be forced to compensate the $1.7 billion asset writedown in state-owned coal-fired power generators.From the same report:
He queried why the Bligh government had not highlighted an estimated $1bn in lost coal royalties between 2012 and 2021. "I would have thought the Queensland government would see the risk for their single largest source of revenue outside of grants from the federal government," he said.
Queensland Farmers Federation chief executive Dan Galligan said the extra costs would put more pressure on farm profits, and called for industry-specific economic modelling.
"The analysis is too broad to give us a clear understanding of how many farmers this will affect to a point where they may well leave the industry," he said. "That may well happen for many farmers -- that loss in profit margins, associated with a number of other issues, will be enough reason for them to leave the farm."
State taxes added to a tax on an invisible trace gas.........Watch out for a bumpy ride.