If you’ve been listening to some Labor MPs today, you will have been informed that the sky hasn’t fallen in. Craig Emerson thinks he’s being clever, celebrating the fact that Whyalla is still standing. Wayne Swan is making some jibes about his groceries. Of course, this is just a strawman. No one said the impact of the carbon tax would be instantaneous. No one said we would wake up July 1 to find economic ruin. Sure, Tony Abbott has made some pretty wild claims, but he never said it would be immediate.
The carbon tax is insidious. It’s effects will be more long-term, with a decline in investment as the tax rises and rises. Abbott may well be vindicated. Hopefully, it will be repealed before it gets that far.