Shayne Neumann (Blair, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. How will the passage of the Clean Energy Finance Corporation Bill help Australia's transition to a clean energy future?

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

I thank the member for Blair for his question. Yesterday marked another very important milestone in securing Australia's future growth in a carbon constrained economy. We did see the passage through the Senate of the Clean Energy Finance Corporation Bill.

We on this side of the House understand that economies that will succeed in the 21st century will be those that are powered by clean energy, and of course a carbon price is the first step down that road. But we do have barriers in clean energy markets, and that is why the Clean Energy Finance Corporation is pretty important in removing those barriers to clean energy investment. The corporation will have a robust investment mandate and will be required to deliver a targeted return.

But, of course, this is a measure that was opposed by those opposite. They would prefer to run around the country with their ridiculous Rocky Horror Picture Show. On Sunday morning will be waiting for the four horsemen of the apocalypse to go down the main road of Whyalla. We know what else will happen on Sunday morning: little puppies will be crying with pain. Every time this Leader of the Opposition has looked down the barrel of a camera, he has misled the Australian people. He was at it again yesterday. We were amused to learn from 7.30 that we had had another Oscar-winning performance from the Leader of the Opposition.

Mr Hockey interjecting—

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The member for North Sydney is warned.

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

He has pretended to have a lover's tiff with Clive Palmer, because he knows—

Honourable members interjecting—

Christopher Pyne (Sturt, Liberal Party, Shadow Minister for Education, Apprenticeships and Training) Share this | Link to this | Hansard source

Madam Deputy Speaker, I rise on a point of order. How can this have any bearing at all on the question he was asked about the Clean Energy Finance Corporation? It could not possibly be relevant.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The Manager of Opposition Business will resume his seat. The Treasurer is responding to the question.

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

Clive Palmer told him to oppose the Clean Energy Finance Corporation Bill—and it has been a bad look, going into bat for billionaires over the battlers in Australia. We on this side of the House are going in to bat for families. Payments have been made to something like 1.3 million families. We have put out something like $1.5 billion, with permanent payments to come from March.

But the most important thing is that we will have on 1 July the tripling of the tax-free threshold—a very big tax reform which is going to look after battlers, those on low incomes and retirees. This is a very big initiative for all Australians. We know what those opposite want to do; they want to claw that back. They want to claw back that tripling of the tax-free threshold to give Clive Palmer a tax cut. It is okay for Clive Palmer to put his pollution in the air for free and it is okay for Clive Palmer to pump it into the Great Barrier Reef, but it is not okay for the battlers of Australia to get a tax cut by the tripling of the tax-free threshold. This opposition leader has sold himself to Clive Palmer and Gina Rinehart—

Mr Pyne interjecting—

We on this side of the House stand for the families of Australia.

Ms Anna Burke (Chisholm, Deputy-Speaker) Share this | Link to this | Hansard source

The member for Sturt will leave the chamber under standing order 94(a). The member for Sturt then left the chamber.

Shayne Neumann (Blair, Australian Labor Party) Share this | Link to this | Hansard source

I ask a supplementary question. The Treasurer has outlined the benefits of moving to a clean energy future. Can he explain what assistance people in my electorate are receiving during this transition?

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

I thank the member for Blair for his question. We are assisting households in Blair to make the transition to a clean energy future. There are 14,300 families in Blair who have already received the advance payment totalling $3 million. From March there will be permanent increases in payments for families, pensioners and those on income support and, of course, from 1 July 47,000 people in Blair will benefit from the tripling of the tax-free threshold. I will say that again: 47,000 people will benefit from that initiative. These are the battlers. These are the low-income earners. These are the self-funded retirees that will benefit from our tripling of the tax-free threshold. I am sure the people of Blair understand the importance of this assistance and they understand that the Leader of the Opposition wants to rip it out of their pockets so he can give a tax cut to his billionaire paymasters.