Scott Morrison (Cook, Liberal Party, Prime Minister) Share this | Hansard source

These are the mechanisms which will ensure that we do meet our 2030 emissions reduction target, which we have set at 26 per cent. But I'll tell you what we won't do: what we won't do is force businesses to spend $36 billion purchasing foreign carbon credits as a way of reducing emissions. That is the policy that the Labor Party announced on Monday of this week. They want carbon credits from Kazakhstan. That is the policy of forcing businesses to shell out $36 billion that they could spend on increasing wages, on creating jobs and on investing in their businesses and in dividend distributions to their shareholders. But, no, the Labor Party wants $36 billion to go to foreign carbon traders.

Over in Kazakhstan, I'm sure they're pretty pleased about this. I'm sure they're absolutely thrilled about this. Some may call this a carbon tax. I will call it 'the Borat tax'. The Borat tax, which will be put on by the Labor Party, will have carbon credits from Kazakhstan. I know what Borat would think of the Labor Party's policies on emissions reduction; he would say, 'Very nice; very nice!' That's what he'd be thinking about the carbon trading policies of the Leader of the Opposition, who wants to force companies to send $36 billion offshore—sucking jobs offshore, sucking profits offshore and sucking wage increases offshore. The only bonus anyone is going to get from the Leader of the Opposition is the bonus that will be provided to foreign carbon traders, who are just simply saying to the Leader of the Opposition, 'Make my bonus.' (Time expired)

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