While the carbon tax is actually a tax on the country’s largest polluters, the knock on effect will hurt the hip pockets of the Australian consumer, but by how much?
The estimated increase is expected to be 0.7 per cent, but what does this mean in everyday costs? The ‘average’ household, is estimated to see increases of $9.10 per week, or $515 per year. However, according to the calculator on the Clean Energy Future website, a single person household where the occupant is on a full Age Pension with no other income, will see a cost of living increase of $204 per annum.
This increase of $9.10 per week will include $3.30 for electricity, $1.50 for gas and $1.20 on food bills. A trip to the shops will see a loaf of bread and a litre of milk cost two cents more and the average spend on fruit and vegetable will increase by 14 cents.
There are several calculators available to help you get a better picture of how much your household bills will increase. To get a better understanding of how you will be affected, why not try the Bringing home the cost of carbon calculator on Choice.com.au?