FEDERAL MPs for Wright and Forde say the "long-awaited" axing of the carbon tax means lower electricity and gas bills for families and small businesses.
Forde MP Bert van Manen said the average household would save about $550 a year, including around $200 on the average electricity bill and $70 on the average gas bill.
He said removing the tax "from the backs of small business and families" was an important step in building a stronger economy and a way to create more local jobs.
"This will make it easier for them (businesses) to compete and employ more people," Mr van Manen he said.
"I've listened to many local residents concerned about how this unfair tax has imposed a real burden on their small business and their family.
"The carbon tax is a $9 billion a year hit on the economy. It hurts small businesses and costs jobs."
Wright MP Scott Buchholz said the long awaited axing of the tax would be carefully monitored by the Australian Competition and Consumer Commission to ensure benefits would be passed onto consumers.
"Australian mums and dads have been collectively paying an additional $11 million dollars a day in electricity prices since the introduction of the tax and around 75,000 small businesses have taken a direct hit to the tune of $700 million. This impost is now gone," Mr Buchholz said.
"Electricity prices will be 9 per cent lower and gas prices will be 7 per cent lower on average with no carbon tax in place.
"Electricity and gas retailers are required by law to pass on savings with AGL, Origin Energy and the Electricity Supply Association of Australia all guaranteeing that price reductions will flow through to consumers."
Mr Buchholz said scrapping the tax would not mean the end of tackling climate change, rather a renewed approach by the Coalition, through the Emissions Reduction Fund, would be more effective in reducing carbon emissions.
