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

I thank the member for his question, because this is an important reform for the Australian economy. It is an important reform so that we can continue to generate jobs for the future. It is an important reform to make sure that we increase our prosperity in future years. What we do know from all of the reports that we have received and, indeed, from the practice in New Zealand is that we can introduce a price on carbon pollution and do it in such a way whereby the economy continues to grow, incomes continue to grow and jobs continue to grow. Those on that side of the House are just intent on running a baseless scare campaign about a price on carbon pollution. Because they are such a policy-free zone, they do not have the wit to come to grips with or grasp the importance of such a substantial reform like this.

There was a time in our political life where those on that side of the House did front up and did support some big reforms which were essential to our prosperity, including the big reforms of the eighties and the nineties—the floating of the dollar, the bringing down of the tariff wall and enterprise bargaining. Although I note that they most certainly did not support one of the most fundamental reforms, which was superannuation reform. They said that would bring down the house, burning. During the global financial crisis we saw how important that reform was to financial stability within our economy. We know that this can be done and done in a way whereby our economy continues to grow. We also know that it does bring challenges and we also know that business is under pressure. We understand that many businesses are under pressure from the high Australian dollar, for example. But we understand that if we make this reform we will continue to generate jobs. We also understand the fact that the cost of not acting is far higher than the cost of acting. Those opposite would want to delay action in this area and therefore ensure a much harsher adjustment down the track. We are doing the sensible thing that so many other countries around the world are doing and that, indeed, they are doing in New Zealand. We heard it yesterday. I have never seen a more disgraceful performance in this House than we saw from the Leader of the Opposition yesterday.

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