The Prime Minister Tony Abbott yesterday introduced a package of bills to repeal the carbon tax as its first item of legislative business in the new Parliament.
Abbott said that “Repealing the carbon tax should be the first economic reform of this Parliament and it will be followed by further economic reforms: bills to repeal the mining tax, to restore the Australian Building and Construction Commission and to deal with Labor’s debt legacy”, reported by CCN.
Australian Competition and Consumer Commission (ACCC) will have new powers to monitor prices and take action against businesses that attempt to exploit other businesses and consumers by charging unreasonably high prices or making false or misleading claims about the effect of the carbon tax repeal on prices. “When the price of power comes down, the Australian Competition and Consumer Commission will be ready to ensure these price reductions are passed on to households and businesses”, Abbott added.
The Climate Change Authority will be abolished. Many of the functions currently performed by the Authority will not be needed once the carbon tax is gone.
The bills are available on the Parliament of Australia website. Further information on the repeal of the carbon tax is available on the Department of the Environment website (http://www.environment.gov.au/carbon-tax-repeal/index.html).