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

My question is to the Prime Minister. I refer the Prime Minister to the government's Clean Energy Finance Corporation, which is similar to a United States Department of Energy program that guarantees loans to green energy companies. Is the Prime Minister aware that under this US program half a billion dollars in taxpayer backed loan guarantees were extended to US company Solyndra, which has recently filed for bankruptcy and been raided by the FBI and is sacking its 1,100 workers? Will the Prime Minister guarantee that the government's Clean Energy Finance Corporation will not lose any of the $10 billion in taxpayer funds under its control?

Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I am indebted to the Deputy Leader of the Opposition for giving what I think is a very penetrating critique of why the opposition's polluters subsidy plan is destined for failure, because at the centre of it is bureaucrats trying to pick winners and donating taxpayer funds to companies which may well go bankrupt at the cost of $1,300 per year for Australian families.

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

Mr Speaker, a point of order on relevance: the question was about the government's Clean Energy Finance Corporation, which is the program similar to the United States—in fact, they modelled it—

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

The Deputy Leader of the Opposition will resume her seat. The Prime Minister is responding, and I will listen carefully to see that she is within the standing orders.

Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I was just going to make the point that, in contrast to the opposition's subsidies for polluters multibillion dollar slush fund, the Clean Energy Finance Corporation will be a body that is at arm's length from government, led by commercial leaders who will be making decisions on a commercial basis. The aim, of course, is to catalyse the development of clean energy in our economy. So we will be relying on the expertise of people from Australia's private sector to work on the Clean Energy Finance Corporation, and of course we will have some things to say about that over time as the Clean Energy Finance Corporation is established.

What is truly remarkable about this question, though, is the essence of the opposition's policy is that it believes it can take $1,300 per year from Australian families, put it in a slush fund and then dole it out to polluters, and, yes, that would have the consequences the Deputy Leader of the Opposition predicts.

Honourable members interjecting—

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

Order! The House will settle down.