Tony Abbott yesterday made a $250 billion blunder in his climate change costings.

Mr Abbott yesterday claimed that the overall cost of permits in the Carbon Pollution Reduction Scheme would be up to $400 billion more if the 2020 target was increased.

Despite having made a bipartisan commitment to the Government’s target range, Mr Abbott said yesterday:

"To get a 15 per cent or 25 per cent reduction in emissions on Mr Rudd's logic, it's going to be an even bigger tax - perhaps a $300 or $400 billion dollar tax.”

In fact, the Treasury modelling released last year suggested the total cost of permits to achieve the Government’s 15 per cent target over the twelve years to 2020 would be around $150 billion – that’s $250 billion less than Mr Abbott claims.

In his desperation to run a scare campaign against action on climate change, Mr Abbott has made a $250 billion costings error.

Reckless errors like this from Mr Abbott show that you cannot trust what Mr Abbott says on climate change.

Under the Government’s CPRS all revenue raised from the sale of permits is returned to Australian households and businesses to transition to a low pollution economy.

Mr Abbott has no climate change policy. He will say anything and do anything to keep his climate change scare campaign going.

Under the Carbon Pollution Reduction Scheme the Government will continue to meet its commitments to households, regardless of the emissions reduction target adopted.

8.1 million households will receive direct cash assistance under the Carbon Pollution Reduction Scheme.

All pensioners, carers, and people with a disability will be fully compensated for any increase in the cost of living under the Government’s scheme.

2.6 million low income households will actually be better off as a result of the compensation in the Government’s scheme.

The Opposition has no such commitment to Australian households. 

Media Contact – Rod Hilton 0458 276 619