BlueScope Calls Australia Carbon Tax Plan ‘Economic Vandalism’

BlueScope Steel Ltd., Australia’s biggest steelmaker, said the government’s planned carbon tax will reduce its competiveness as it battles high raw-material costs and the stronger Australian dollar.

“That is clearly economic vandalism,” Chief Executive Officer Paul O’Malley said on Australian Broadcasting Corp.’s Inside Business program yesterday. “It clearly says we don’t want manufacturing in Australia.” Imports must also be taxed if the carbon tax is introduced to ensure Australian steel producers can compete, he said.