Melissa Price (Durack, Liberal Party, Minister for the Environment) Share this | Hansard source

What are Labor so desperate to keep out of the public domain? Let's have a look at what the broader population have said about our policies and the economy-wrecking policies of the Labor Party. The Business Council of Australia said:

The emissions target of 26% is appropriate and achievable. 45% is an economy wrecking target.

What did the CFMMEU say about Labor's policies? They said:

… an increased renewable energy target of 50 per cent by 2030 will increase the cost of electricity for manufacturing and ordinary households while being a poor tool to reduce Australia's overall global warming emissions.

The National Farmers' Federation said that it would hinder agricultural competitiveness and economic growth. The Minerals Council of Australia, on the 45 per cent emissions reduction target, said:

The target is not based on detailed economic analysis of its impact on growth, living standards and energy costs. … The proposed target has the look and feel of an ambit claim.

The list goes on. I'm now down to six minutes and 40 seconds left.

We know the Labor Party is a wrecking ball to the economy, because we've seen what Labor has done in the past. The Climate Change Authority modelling indicated that a 45 per cent target would require a new carbon tax of $135 per tonne. That is more than five times Labor's first carbon tax. You can't make this stuff up. It's more than 12 times the cost of one tonne of abatement through the Emissions Reductions Fund. That's one of our climate change policies, by the way—just to educate those on the other side. The Australian Energy Council has stated Labor's plan for a net zero emissions target by 2050 would cost at least $230 billion by 2050—and it would all be paid by the electricity consumers. Everyday Australians and small- and medium-sized business people would be paying for that. It would be $230 billion in new costs to our economy to back up the $200 billion in the new taxes that we will get if those opposite ever sit over here. Who is going to feel the pain of that? Retirees, pensioners and homeowners will all suffer under that lot opposite.

How many more costs does the Labor Party want to impose on the Australian economy? We have achieved five years of strong economic management. That's what the good men and women of the coalition have achieved in the last five years. We stand by our record and are very proud of our record, but the greatest risk to what we've achieved for the Australian economy is those people sitting on the other side of the chamber. The Labor Party don't care about jobs or the economy. They're walking away from ordinary Australians. But we haven't walked away. We've been getting on with it. We're not interested in grandstanding, ideology or plucking numbers out of the air. We are not interested in that. We are interested in delivering real policies and real outcomes for everyday Australians.

Let's talk about another good environment policy. Let's talk about our record on renewable energy, which those opposite think we've done nothing on. The coalition has driven investment in renewable energy in the last five years. We're leading the world in rooftop solar, with some two million households around Australia. It's the coalition who has driven nearly $20 billion in renewable investment through the Clean Energy Finance Corporation. The Australian Renewable Energy Agency, under our government, is investing in next-generation technologies. We're investing in hydrogen. We're supporting lithium projects because we know batteries are key to a lower emissions future. That's what we're doing. Wind and solar generation in the National Electricity Market is projected to increase by 250 per cent over the next three years. I think that's a pretty good record. We will reach our 23.5 per cent renewable energy target because we have put in place real policies that work. That's action. They're not just words, which those opposite just continue to throw across here.

We cannot forget the Emissions Reduction Fund. Nearly 200 million tonnes of abatement was contracted through this program since it was instigated in 2015 by this side of the House. It's been a resounding success. It's been a cost-effective method of reducing emissions that has actually created jobs. The Emissions Reduction Fund is an excellent climate policy, but the benefits go far beyond just reducing emissions. We've contracted with farmers, landholders and Indigenous groups to lower emissions. About 80 per cent of the carbon abatement through the Emissions Reduction Fund has been delivered by farmers. As someone from a regional seat—the largest seat in Australia—I am very proud of that. We know that many of the farmers, especially on the east coast at the moment, have been doing it tough and we know the drought has been hard on agriculture. Because of the Emissions Reduction Fund, the farmers who have tapped into that program have been able to have another stream of income. People say it's an alternative stream of income, but, for some, it's their only stream of income. So I'm very proud of what the Emissions Reduction Fund is actually doing for regional Australia.

These farmers have been able to revegetate degraded land, which is an excellent outcome for the environment. They've had the support of the coalition when times are tough. That's what we do on this side: we look after regional Australia. This program is not only supporting the farmers but also supporting regional communities. These projects will generate revenue of more than $1.8 billion over coming years through the sale of carbon credits, creating jobs, improving the environment and reducing emissions.

I've heard the member for Port Adelaide say that the Emissions Reduction Fund is 'a colossal waste of taxpayers' money'. The member for Port Adelaide needs to explain his comments. He needs to look regional Australians in the eye and explain to them why he thinks investing in their community is a colossal waste of money.

On this side, we're about supporting Australians, not hitting them with new taxes. These aren't ideas or thought bubbles. We're actually doing it. We're doing it right now. These are real outcomes and real policies that are reducing emissions whilst strengthening our economy. We can look after our economy and the environment at the same time. Sometimes we've just got to try a bit harder, and that's what we're doing on this side. We're a responsible government and we know that we will not need to wreck the economy to address climate change. We're committed to reducing our emissions by 26 to 28 per cent under the Paris Agreement, and we will get there. It's responsible, it's achievable and it won't cost jobs or wreck our economy.

Next week I'm off to Poland, and I'm very proud to be able to do that. We've got a good track record and I look forward to sharing our good policies with people in Poland. We know that we only contribute 1.3 per cent of global emissions. We will take our place in the globe, and I'm very, very proud of our record.

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