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Has the carbon tax killed the Australian mining boom?

Added by editor, on October 1st, 2013

Institute for Rural Futures Research Seminar

  • Time: Thursday, 3 October, 2013, 1.00pm.
  • Location: Institute for Rural Futures Seminar Room (Building CO12) University of New England

Dr Samuel Meng
Institute for Rural Futures, School of Behavioural, Cognitive and Social Sciences

Please join us.

The resources sector has been the engine of Australian economic growth in recent years. It is sometimes suggested that the carbon tax policy introduced in July 2012 has killed this resources boom. By employing a computable general equilibrium (CGE) model and an environmentally-extended Social Accounting Matrix (SAM), this paper demonstrates the effects of the Australian carbon tax on the resources sector. The modelling results show that, in a flexible exchange regime, all resources sectors are affected negatively, but to different degrees. The brown coal sector is affected most with 26% decrease in output, 53% decrease in employment and 89% decrease in profitability. However, the other resources sectors are only mildly affected. Under the carbon tax, the resources sectors contribute significantly to total emission reductions in Australia. Given the fact that brown coal accounts only for a small portion of the output of natural resources and is primarily used by small businesses in Australia, it is reasonable to suggest that a carbon tax has not significantly affected the overall performance of the resources sector.

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