Ms Julie Bishop (Curtin, Liberal Party, Deputy Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer confirm that under Professor Garnaut's proposal compensation for business will reduce from 35 per cent to 20 per cent over 10 years? How does the Treasurer expect struggling manufacturers to survive against overseas competitors who do not pay a carbon tax when the government is almost halving compensation for Australian businesses?

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

It sounds like the member for Curtin wants to make a comeback as the shadow Treasurer! As the Prime Minister and the Minister for Climate Change and Energy Efficiency have indicated, we think this is a very good report from Professor Garnaut. It is a very important report that means that there can be a thorough community debate about dealing with dangerous climate change and its impact not just on our environment but on our economy. Of course, it is a serious piece of work. It is a serious piece of work which feeds into the work that the government is doing with the multi-party committee, the business community and the wider community. We will take that on board as we go through developing an emissions trading scheme based on the principles that have already been announced by the Prime Minister and the Minister for Climate Change and Energy Efficiency.

What we have seen here today is the pretence that somehow the government have already taken those decisions. We have not. The opposition want to go out there and run a scare campaign. Why are they running a scare campaign? It is because they are so acutely embarrassed about their lack of policy. They have no economic policy. They have been coming into this House and calling for an election despite the fact that their election policy from last year had a $10 billion hole in it.

Ms Julie Bishop (Curtin, Liberal Party, Deputy Leader of the Opposition) Share this | Link to this | Hansard source

Mr Speaker, I rise on a point of order. I asked about struggling manufacturers who have to compete against overseas competitors who do not pay a carbon tax when the government has been advised to almost halve the compensation to business over 10 years. I ask the Treasurer to answer that question.

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The Deputy Leader of the Opposition will resume her seat.

Mr Abbott interjecting—

Mr Swan interjecting—

Order! The Treasurer does not have the call. Both the Treasurer and the Leader of the Opposition will come to order.

Mr Robb interjecting—

Order, member for Goldstein! The Treasurer can resume his seat while the House comes to order. I am happy to wait. The Treasurer has the call and he understands the requirements that he has to keep in mind in making his response. He is responding.

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

We on this side of the House take our responsibilities very seriously, unlike those opposite. We are going about in a methodical way producing a policy which deals with dangerous climate change and protects our economy for the future, unlike those opposite, who simply want to tax Australian families and hand the money to large polluters. We have a serious policy process in train for the benefit of the country and we are proud of what we are doing, unlike those opposite, who can only run a cheap scare campaign.