An independent analysis of the carbon tax shows that it will have a smaller than anticipated impact on household costs, according to a report released by consumer advocate CHOICE, the Australian Council of Social Service (ACOSS) and policy research organisation The Climate Institute.
The CSIRO-AECOM study compared the effect of the carbon pollution price with other inflationary events such as the introduction of the GST, Cyclone Yasi and the mining boom and found the impact on prices of the 2001 GST was more than 4 times bigger (2.5%) than the carbon price, while fruit prices, led by bananas, spiked by a massive 70% after the damage of Cyclone Yasi.
Together with pricing research, The Climate Institute, CHOICE and ACOSS have released an online calculator for households to weigh up their own costs, financial support and potential savings. (www.yourcarbonprice.com.au)
[excerpt from TSN national news]
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The purchasing power of the fortnightly Newstart allowance has slipped $22 in the past 10 years - http://www.smh.com.au/national
