BluesSope Steel warns if carbon tax is implemented, it could lead to plant closures and loss of 15,000 jobs, according to a report by the Australian Financial Review.
The company claims the tax would force closure of its Port Kembla steelworks in NSW unless the government offsets the $300 million to $400 million per year in additional taxes the company expects to pay $25 tonne carbon price, the report stated.
Chief executive of BlueScope Steel Paul O’Mailey told the Australian if you tax the local steel producer, you are basically saying we want to encourage imports of steel and hide the carbon overseas.