carbon tax hits australia's top companies

Just think if labor got back in it would be going on diesel fuel.
How much would that increase the price of everything

not long now

VIRGIN Airlines has blamed the carbon tax for contributing to a $98 million full-year loss, adding to corporate concerns that Labor's climate change scheme is wiping billions of dollars off blue-chip profits.

Australia's second biggest airline on Friday morning announced the carbon tax had added nearly $50 million to its 2012/13 expenses - around half the amount booked by Qantas, which said the green impost added $106 million.

Chief executive officer John Borghetti explained the $47.9 million cost could not be recovered by Virgin, "due to strong competition in the market" - a common complaint from businesses facing a carbon squeeze.

A week from polling day, the impact of Labor's greenhouse scheme on corporate balance sheets can be revealed - with the carbon tax costing the country's four biggest energy companies close to $1.7 billion.

And while Kevin Rudd is pitching his campaign message on creating jobs, coal miner Glencore Xstrata claims the carbon tax will cost it $200 million and is undermining investor confidence in new projects.

Soon to be privatised Macquarie Generation, owned by the NSW government, was whacked with a $469 million carbon tax bill, for the year to June 30.

Regional airline Rex on Thursday blamed the carbon tax for a 45 per cent nosedive in profits - from $25 million to $14 million in 2012/13 - with executive chairman, Lim Kim Hai, claiming that sales plunged "almost immediately" after its introduction just over a year ago.

http://www.dailytelegraph.com.au/business/billions-wiped-from-bluechips-as-carbon-tax-hits-australia8217s-top-companies/story-fni0d2cq-1226707540083