Malcolm Turnbull (Wentworth, Liberal Party, Minister for the Environment and Water Resources) Share this | Hansard source

The Leader of the Opposition, when asked whether jobs would be lost as a result of his climate change policy, said, ‘Not necessarily.’ That is hardly a ringing reassurance for Australian workers. In 2006 the Australian Bureau of Agricultural and Resource Economics modelled a 50 per cent cut in 1990 level emissions by 2050, which is a much less drastic reduction than that proposed by the Australian Labor Party. ABARE forecast that this cut would result in a 10.7 per cent fall in GDP, a 20.8 per cent fall in real wages, a 75 per cent fall in aluminium production and—this will be of particular concern to the member for Cowper—a 44 per cent reduction in agricultural production. ABARE concluded that the key elements in greenhouse response are global—

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