A sharp carbon tax jobs pang

As the finance sector joins retail, construction and manufacturing with job cuts and a shift to online operation, the carbon tax is looking like a poorly timed idea.

The latest round of retrenchments in the economy will have a profound effect on the nation’s wellbeing. The further fall in manufacturing jobs did not catch us by surprise but the finance sector did surprise. And the banking retrenchments are not just about the decline in economic activity but are a signal for a fundamental change in the industry.

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