Greg Combet (Charlton, Australian Labor Party, Minister Assisting the Minister for Climate Change) Share this | Hansard source

I will tell you. She said:

Many of our members are telling us that they are holding off making investment decisions until there is a greater degree of clarity around domestic climate change legislation.

It only stands to reason that this uncertainty needs to be ended. You only have to consider, for example, the very significant investments that would be in contemplation in the New South Wales energy industry right now and the importance it is for those potential private investors to understand what the carbon price may be, how it will be set and how the market will operate in the carbon industry in order for them to be properly able to model and predict the investments and the returns that they will make.

In addition to the issue of business certainty, it is also very important that in the lead-up to the Copenhagen conference we ensure that we prosecute the Carbon Pollution Reduction Scheme legislation through the parliament so that the Australian government has the best negotiating capacity and strength possible so that it can influence an outcome at that important conference. This is an argument that the government has been advancing for some time but—as the Prime Minister pointed out earlier—in an opinion piece in the Australian newspaper today, the member for Warringah emphasised this particular point. He said:

It could indeed help the outcome of the Copenhagen climate change talks if Australia agreed in advance not only to a carbon emissions target but also on a mechanism to deliver it.

That particular extract is a very welcome extract.

The government, as the Prime Minister indicated, welcomes the fact that the opposition has developed a set of proposals and looks forward to seeing the detailed amendments. I understand that during question time a piece of correspondence has been received in the office of the Minister for Climate Change and Water. I have not had the opportunity to review that correspondence at this stage. But it is extremely important that the government receives the detailed amendments from the opposition so that we can get on with the business of negotiating these issues in good faith.

There are two important aspects regarding any amendments put forward by the opposition. Quite simply, they must be environmentally credible and fiscally responsible. Last night, the member for Groom made three important claims at a press conference. He stated that the proposals that the opposition has formulated would: firstly be self-funding, secondly, achieve exactly the same level of emissions reductions as the Carbon Pollution Reduction Scheme and, thirdly, mean that no households will be worse off. The government looks forward to receiving the detailed explanation and data that underpins those particular claims and we expect—and it will be important for us to see—that particular information when we receive the proposed amendments.

The CPRS bills, as the Prime Minister indicated, will be introduced into this House this Thursday and debated in this House next week. The bills will also be introduced into the Senate following a vote in the House in the week beginning Monday 16 November. Let me be extremely clear about this: the government wants to pass this legislation and make this very important reform. That is why it is vital that the coalition opposition negotiate in good faith. The Leader of the Opposition has said that the opposition will negotiate in good faith. In order to demonstrate that, it is now also important for them to produce the detail and the data that underpins it for us to ensure that these proposals are environmentally credible and fiscally responsible. Furthermore, the opposition must commit to voting on the Carbon Pollution Reduction Scheme legislation this year.

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