Angus Taylor (Hume, Liberal Party, Minister for Energy and Emissions Reduction) Share this | Hansard source

I thank the member for his question, and I acknowledge his strong focus on reducing emissions and of course doing that while we maintain a strong economy. He knows that the way to do that is to take real and practical action, and that's through technology, not taxes.

We'll meet and beat our Kyoto 2020 targets by 411 million tonnes, as we just heard from the Prime Minister—80 per cent of a years worth of emissions—having inherited a 700 million tonne deficit when we got into government. We have a strong 2030 target and, according to the December emissions projections, we'll meet and beat those targets as well. According to emissions data that's come out today, we've seen a 2.3 per cent reduction in emissions in the domestic economy this year. We've seen reductions in the total economy and of course in the National Electricity Market we've seen a 3.2 per cent reduction, to the lowest level of emissions in our electricity market since records began. Right at the heart of that is world-leading investment in renewables. Increasingly, we're seeing a focus on dispatchable power to drive down wholesale prices, which have come down 35 per cent, year-on-year, in the last 12 months.

I was also asked if there is an alternative approach. The Leader of the Opposition has announced a target for 2050. Taking a leaf out of the member for Maribyrnong's book, he's done it without outlining his plan to get there. They've failed to front up and look miners, farmers, manufacturers and truck drivers in the eye and tell them what the implications are of those targets.

Today, we've had members of the opposition out there citing the CSIRO's Australian National Outlook 2019 report to back up their target and to describe what their plan really is. Let me let the House in on a little secret about what's in that report: it models a $273 carbon price, and it slashes the sheep industry, the beef industry and cropping, decimating country towns, and of course putting regional Australians out of a job.

Mr Marles interjecting—

The member for Corio will be happy to know that the report says it's the end—the death—of the coal industry. We know where this ends: with a massive carbon tax, slashing jobs and incomes in the Australian economy.

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