A new report shows Labor’s plan to drastically cut emissions would slash economic growth and wages.

The Opposition is proposing to reduce emissions by at least 45 per cent if it wins the federal election.

Research by BAEconomics, to be released today, suggests Labor’s plan would see thermal coal production fall by 60 per cent.

Managing Director of BAEconomics Dr Brian Fisher says electricity prices will rise under Labor’s policy.

“In terms of the impact on wholesale electricity prices… under the Coalition scenario $93, versus $128 under the Labor scenario.”

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Former Deputy Prime Minister John Anderson tells Alan Jones it would end up “smashing the economy”.

“Carbon abatement is not free, it’s expensive.

“The more you do, the faster you do it, the more expensive it is.

“I am deeply concerned at the way in which many Australians seem to be prepared to virtue signal.”

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