Nola Marino (Forrest, Liberal Party) Share this | Link to this | Hansard source

My question is to the Treasurer. Will the Treasurer outline to the House the economic significance of scrapping the world's biggest carbon tax? What will the scrapping of the carbon tax mean for jobs and growth?

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the honourable member for Forrest for her question. It is a hugely important question, because abolishing the carbon tax is part of our Economic Action Strategy to strengthen the Australian economy and help create more jobs. We can do that by getting rid of taxes like the carbon tax and the mining tax and by allowing our nation to be more competitive when in head-to-head challenges with economies that do not have a carbon tax or a mining tax. According to Treasury analysis, as a result of the abolition of the carbon tax, the Australian economy will be larger and inflation will be lower. Ultimately, that means that more jobs will be created. The abolition of the carbon tax will save the Australian economy $11 million a day, it will lift a $9 billion yearly burden off the shoulders of everyday Australians and it will on average benefit every household by around $550 this year alone—$550 per household as a result of getting rid of the carbon tax.

The Labor Party, or at least some of them, should be celebrating the abolition of the carbon tax, because just over a year ago they promised the Australian people that if the Labor Party were re-elected they would terminate the carbon tax. But, within their nature, they do not know whether they are Arthur or Martha. They do not know what their position is, but what we know is that today the Leader of the Opposition has pledged to reintroduce the carbon tax. Today the Leader of the Opposition has pledged that, should you vote for the Labor Party at the next election, you will get another carbon tax. Whatever it may be called, the Australian people will get another carbon tax that will increase the cost of living for everyday Australians—because that is what it was designed to do.

The carbon tax was designed to increase the cost of everything in the economy that uses energy. Australia is not only one of the world's leading exporters of energy; it obviously also consumes energy. As a result of getting rid of this tax on energy, our economy will be stronger, our population will be wealthier and there will be more job opportunities. The only problem is—the only threat is—that if anyone ever votes for the Labor Party again, we will see the carbon tax back again.