Ian Macfarlane (Groom, Liberal Party, Shadow Minister for Energy and Resources) Share this | Hansard source

I think the member for Parramatta is suggesting that the EMA is a piece of nonsense. I am supporting the EMA. I am supporting the minister. I know there are some on that side, and maybe the member for Parramatta is one of them, that do not support the EMA, that actually want it stopped—there are a whole stack of them over there. If the member for Parramatta wants this stopped, perhaps she will stand up and at least out herself.

The reality is that the Labor Party generally see the resources sector as simply a cash cow, something that can be taxed at every opportunity. When they had the chance to actually do something right, the Prime Minister bungled it again—a simple, straightforward EMA announcement. She knew all about it. I knew all about it and I am not even in government. I knew what was happening. I had been briefed by the company. I had read it in the newspaper. I have seen the terms of reference. I knew what was going on. She knew what was going on. Yet in a meeting with the unions she got completely spooked and rattled and destroyed a golden opportunity for this government to give one crumb of confidence to the resources sector in 4½ years. One little crumb to demonstrate that they, the government, knew exactly what they needed to do if these projects were going to succeed—and they absolutely blew it.

We now have ourselves in a situation where, whilst the minister says this agreement will be finalised and implemented, we are not sure because we do not understand the oversight role of the committee that has been announced today. We are not sure that, if there is another EMA put forward, the conditions will be the same. There has been no deed signed for the EMA that was announced last week, and the confidence of the sector is slowly ebbing away.

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