Belinda Neal (Robertson, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline to the House the consequences for future jobs and growth if nothing is done to build a low-pollution economy?

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

I thank the member for Robertson for her question. Australia has perhaps more to lose than any other developed nation if we fail to combat and do our bit to reduce dangerous climate change. It is a sad thing to sit in this House day after day and listen to the climate change sceptics opposite denying the science, denying the reality and denying the consequences for our economy and for subsequent generations. They are in complete denial about all of the evidence, particularly when it comes to the importance of sending a price signal which will drive investment particularly in renewable energy, as the Prime Minister was saying before. They are in complete denial about the impacts on our environment, in complete denial about the impacts on our health and in complete denial about what it means for the wealth creation capacities of this economy and what it means for our subsequent prosperity.

We in this House have become used to this, because those opposite are in denial a lot. This country would be in recession if they had their way right now. They were in denial about the global recession. It was not going to happen. Stimulus was not going to create a single job and now they say it has created too many—they like being on both sides of the argument from time to time. It is tragic that a responsible opposition that purports to be the alternative government of this country can be in such denial about the basic facts and science of climate change and, of course, completely in denial when it comes to the benefits that will flow through to renewable energy. The Prime Minister spoke about that before.

We have a 2009 Climate Institute study that shows there is $31 billion worth of clean energy projects underway or planned in response to the government’s climate change policies—$31 billion. But if the opposition had their way they would starve the future of vital job-creating investment. That is their proposition in this House—starve the future of vital job-creating investment in the renewable energy sector. This is a very serious question but over there, like they were at the beginning of this year, they have no comprehension about what this means for the economy. Then, as now, they would sit and they would wait and they would see. If they had had their way then, we would be in recession right now. They are the masters of misjudgement. They are consistently inconsistent when it comes to all of these questions. There is Treasury modelling on this. The opposition are in complete denial about the Treasury modelling and in complete denial about all of those issues.

We on this side of the House will pursue the long-term national economic interests of this country. We on this side of the House are prepared to take the hard decisions those on that side of the House will not ever face up to. All they are interested in doing is playing short-term politics. We on this side of the House will put in place the policy settings for the long-term. We will make sure that we deal with dangerous climate change, that our economy becomes more efficient, that we invest in infrastructure for the future and that we put our budget on a sustainable footing, despite the vandalism in the Senate from those opposite when it comes to keeping budget measures. We on this side of the House are the party that is supporting jobs and we on this side of the House are the party of the future. They are the party of the past.