Questions about carbon tax savings - economics professor

Even the Murdoch media has started asking some rather inconvenient questions about the carbon tax repeal. Namely over the much lauded savings returned to consumers of $550 a year. 

The tax has been operational for some time now, and now repealing it requires it's extrication from the economy, and according to Abbott everything will be as before the tax was introduced, and all the price increases since it's introduction will be paid back.

Only problem is that his lies about the carbon tax increasing prices as he described were, well, lies. In fact the carbon tax had a minimal effect on power prices and the overall inflation in the economy. To say that all these increases were specifically because of the demonised carbon tax was always going to be exposed as a lie, eventually. 

Of the $746 increase in power bills since 2007, only $172 could be attributed to the carbon tax, the left-leaning think tank says.

"It's not why their electricity bills have gone up so rapidly, and it's certainly not why the cost of the other things that have gone up have increased," executive director Richard Denniss told ABC radio today.

Stephen King, a former member of the Australian Competition and Consumer Commission dismisses the Palmer United Party consumer guarantees in the repeal bills as "populist hokum".

"If you're expecting to see your power bills go down when the carbon tax is eventually repealed ... get ready to be disappointed," the Monash University economics professor says. more

Well now here we are. Abbott has repealed the carbon tax. I will be waiting with baited breath at the extensive savings that the gov predicts I will make from it's repeal  :)  Ha ha ha ha .........

* $550 in 2014/15, or $10.50 a week 
* Electricity and gas bills down by up to nine per cent 
* Electricity bills $3.80 a week lower, or $200 for the year 
* Gas bills $1.40 a week lower, or $70 for the year
 more