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

I thank the member for Parramatta for her question because putting a price on carbon pollution is absolutely important for future prosperity and for future environmental sustainability. We on this side of the House accept the proposition that climate change is real. Just about every reputable scientist believes that climate change is real and, indeed, the Howard government even believed that climate change is real—which is why it believed in putting a price on carbon pollution.

All of the leading scientists, particularly those who came out in the last few weeks, make it very clear that climate change is real, that we are causing it and that we do need to act now. We need to act now because we are in the critical decade. To delay action will mean greater costs and a greater adjustment into the future. That is why economists and business groups accept that the cost of inaction is greater than the cost of action. That has been accepted since the Stern report came down three or four years ago. It is accepted amongst economists that the least-cost way of doing this is by putting a price on carbon pollution.

That is why we had, in the last couple of weeks, 13 respected Australian economists making that point from most of our reputable businesses in the country. We have Australian business—the Australian Industry Group, the BCA—all arguing for a price on carbon. Only last week we had the CEO of NAB who has said that a price on carbon will drive certainty, it will drive investment. This proposition is also accepted by our largest mining, gas and energy companies.

Mr Van Manen interjecting—

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