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Labor’s reckless target to hit families and businesses in Pearce

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Recent economic modelling has confirmed that Bill Shorten and Labor’s reckless emissions reduction target will devastate the local Pearce economy.

Modelling released by BAEconomics’s Managing Director Dr Brian Fisher, shows that Labor’s 45% Emissions Reduction Target and 50% Renewable Energy Target will:

  • cost the economy $472 billion;

  • slash more than 336,000 jobs;

  • cut the average wage by over $9,000; and

  • increase wholesale electricity prices by more than 58%.

Federal Member for Pearce, Christian Porter, said this modelling is further proof that under a Bill Shorten Labor Government, local families and businesses in Pearce will be worse off.

“Under Labor, families and businesses in our community will pay more. We will pay more for basic necessities like food, housing, energy and transport,” Mr Porter said.

Bill Shorten has never come clean with Australians about the true damage of Labor’s reckless targets on household budgets, small businesses, wages, industries and local economies. This latest economic modelling shows why.

“People in Pearce have a right to know the truth about Labor’s targets,” Mr Porter said.

“Under Labor’s targets, wholesale electricity prices will increase by more than 58%.

“This will send energy-intensive industries overseas, where they will face less stringent environmental and safety regulations, which will ultimately drive global emissions up.”

Labor’s reckless targets will punish Australian families already struggling with cost of living pressures, and destroy the industries that have made our economy strong.

Only the Liberal Government has a sensible and balanced plan for meeting our emission reduction commitments. Our plan will ensure that we can continue to keep our economy strong, bring power prices down, and keep the lights on.