More investments at risk from carbon tax and other costs

Didn’t the Government claim Tony Abbott was reckless, alarmist and mendacious in warning its new taxes would drive away investment? 

THE local head of US energy giant Chevron, the biggest foreign investor in Australia, has warned $100 billion worth of projects are “hanging in the balance” due to soaring coats and declining confidence in the federal government’s policy settings…

Chevron Australia managing director Roy Kryzwosinski said resources projects in Australia were 40 per cent more expensive than in the US and its workforce was 60 per cent less productive than the US…

Mr Kryzwosinski today attacked the Gillard government’s move to introduce new transfer pricing measures on foreign investors which would be backdated to 2004…

”The recent introduction of a carbon tax has imposed another additional cost not borne by overseas competitors. These costs add to the growing list of disincentives to invest here.” 

More investments at risk from carbon tax and other costs Via Andrew Bolt