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

I thank the member for his question. We know from the Productivity Commission report that putting a price on carbon is the least cost, most effective way to put that price in place. Of course, those opposite have an entirely different approach. They want to give subsidies to polluters, jacking up taxes for everybody and providing no assistance to households whatsoever.

These types of questions will continue as the opposition runs its baseless scare campaign, as it will all the way through, but this government will not be deterred from putting in place a price on carbon. A price on carbon is absolutely essential for future growth in our economy. We know from the modelling that we can substantially reduce carbon pollution and still have strong economic growth, still have strong income growth and still have strong jobs growth. We know that the cost of not acting is far higher than the cost of acting. Those opposite are proposing that we delay for longer, and all that will mean is that harsher action will be required, with an impact on businesses later on.

We as an economy have to make the transition. If we wish to be a first-rate, First World economy that generates prosperity and that generates jobs, then we have to invest in and drive a clean energy economy. We need to send the signal for investment into clean energy. I know that is not understood by those opposite. It used to be understood by some, but it is not understood by the deniers that are now running the modern Liberal Party and the turncoats that have joined them—the turncoat over there, the shadow Treasurer. I did not get to give the rest of the quote from the shadow Treasurer before, but this is what the shadow Treasurer had to say only last year—

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