Video: ABC economics correspondent looks at Tony Abbott's arguments part of Tony Abbott

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Anthony John "Tony" Abbott (born 4 November 1957) is the Leader of the Opposition in the Australian House of Representatives and federal leader of the centre-right Liberal Party...

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ABC economics correspondent looks at Tony Abbott's arguments

Steven Long demolishes Abbott's policies on Climate Change action and his critique of the Labor policy. Stephen Long reported this story on Sunday, July 10, 2011 17:50:00 ELEANOR HALL: Now back to our economics correspondent Stephen Long. Stephen we heard earlier that the Coalition leader Tony Abbott is not letting up on his fight against this carbon tax, but is Nathan Fabian right when he says this will be very difficult to roll back once it's in place? STEPHEN LONG: I think he is because once big business and global businesses have made investment decisions on the basis of this, if it's overturned it will damage Australia's reputation internationally and I don't know of a government in Australia's history and very few governments overseas that have overturned a major policy in this way. ELEANOR HALL: Tony Abbott's got some of his lines already in place though. This afternoon he said this was all economic pain for no environmental gain. Is he right? STEPHEN LONG: No. In short, no. If the Treasury estimates are right and of course that's a caveat but they look credible, you're going to have a situation where the increase in cost of living is relatively modest and the revenue that the carbon price generates will more than offset that for a large number of households. On the Treasury's modelling you're looking at more than four million households - and bear in mind there's less than nine million households in Australia - who will receive more than the cost, about 20 per <b>...</b>
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