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Posted on 22 Aug 2015 7:12 am
The Minister's office did the analysis according to the Herald Sun. The analysis involved applying 18 years of inflation at 2.5 CPI per annum to the highest price model to make the figures even scarier. These are projections over almost two decades. Difficult to predict 1 year in advance. How often do they get it right? Certain people don't believe modeling when it comes to climate change, yet believe blindly Labor's modeling.
$5000 per family? It is not a "$5,000-per-family hit", rather a $4900 per capita difference between scenarios in 2030 dollars in the Gross National Income (GNI) which is the gross domestic product (GDP) plus net receipts of primary income (employee compensation and investment income) from abroad. GDP is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output. GNI per capita is gross national income divided by mid-year population.
As to reducing electricity prices, wait till the GST is raised to 15% which applies to the the whole bill. Each 1% lift in the rate of the GST will mean 10% increase in tax levied. Families are already paying $51.738 billion / 9,117,033 households = $5675 per year per household in GST.
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