Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I thank the member for Melbourne Ports for his very important question. Back in October 2008 and in February this year Australia faced a grave economic crisis which was forced on us by the global recession. In this parliament we acted decisively and joined with the community to put in place an economic stimulus to support jobs and small business—from the Cape right through to Tasmania, and from coast to coast. History records the fact that it was that stimulus that prevented this country from going into recession. We did this not with the help of the Liberal Party but despite the Liberal Party. They voted against our actions here in the House but thankfully on the second pass the Senate voted for the legislation. Australia was the beneficiary of that vote in the Senate, with lasting benefits for Australia. So many jobs were protected and so many small businesses were preserved, and there was no damage to the skills base or the capital base of our economy.

Now, with just two more days of sittings, we face another moment whose significance is just as great. As the Prime Minister and the Minister Assisting the Minister for Climate Change were saying, the CPRS is absolutely vital to a prosperous Australia in a low carbon future. This point has been taken up today by the Business Council of Australia, which issued a media release entitled ‘BCA Welcomes Bipartisan Support’. The release said:

The introduction of the Carbon Pollution Reduction Scheme (CPRS) in Australia is of such fundamental importance and long-term consequences that it requires bipartisan support.

It went on to say:

When passed, the legislation will enable Australian businesses to plan for and make the required decisions about investments to transition Australia to a low emissions economy.

The CPRS is absolutely critical to business certainty, to drive investment in new technologies and in green jobs and, as the Prime Minister pointed out before, to support new jobs—up to 30 times more in the future—in the green sector. That is very important.

If the legislation passes it will send a strong message to all nations that plans for reform in this country have come through despite a global recession, because the temptation in other countries around the world—like it was for the Liberal Party here in February—could well be to do nothing. We need to send a strong message to the world and to everyone in this country that the government is absolutely focused on long-term reform to protect long-term prosperity. No country needs to send that message more than Australia because we are one of the hottest and driest continents. We are hit hardest and fastest by dangerous climate change. That is why we have had another statement today from business, from Heather Ridout, who said:

If we do not put something on the table why should the rest of the world come in and help reduce emissions which will inevitably flow to Australia.

This House, and of course the Senate, should seize this moment. We can work in the national interest together. Indeed, it is imperative that we do. We can send the message that Australia is up to this challenge because we have shown, through our response to the global recession, that we are up to the challenge of reform, we are up to the challenge of decisive action and we are up to the challenge of protecting our long-term economic interests.

Now is the time for all sides of this parliament—for all parliamentarians in the House and in the Senate—to show some common purpose, to show that we will put our national interest first and to show that we understand the challenges of the future. Our responsibilities to our kids and to our grandkids are what we must follow and live up to. It is a test we cannot afford to fail.

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