Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Can the Prime Minister confirm that, because of his Liberal government, when this parliament adjourns, if you are a pensioner, a weekend worker, a household with rising electricity costs or a parent of a child in a public or a Catholic school, you lose? And if you are a millionaire or the parent of a child at the elite The King's School, you win? Prime Minister, how on earth is this fair?

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I can confirm that, as a result of the work of this government and this parliament, we have ensured that Medicare is guaranteed. We are working now in the Senate to ensure that Australian children get a nationally consistent, transparent and needs based education funding model, as recommended by David Gonski and as espoused—in theory, at least—by the Labor Party for so many years, but never delivered.

I can remind the Leader of the Opposition, who talks about rising energy prices, that he might well talk about his party's role in putting them where they are. It was not a Liberal government that allowed so much gas to be exported from Queensland without any regard to the consequences for the domestic market. It was not a Liberal-National government that decided to push renewable energy targets in South Australia without any regard to sustainability, storage or backup. But it is a Liberal-National government, it is a coalition government, that is taking action now on gas prices—that is taking action now on gas prices and that is taking action now, which Labor never went near, to stop energy companies from making re-hearing applications to decisions by the Australian Energy Regulator in respect of what they can charge for their poles and wires.

Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

What did you say in the election campaign? You said it was sovereign risk!

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

I hear the member for McMahon always posing at the dispatch box as an advocate for the workers and the consumers. But when he gets away from the microphone and his inner self comes out, we hear what he is really up to. He just said, 'That's sovereign risk!'

Mr Dreyfus interjecting—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The member for Isaacs is warned!

Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

That is what he said! He said it is sovereign risk. What he is saying is that ensuring that Australian businesses have the gas they need is a sovereign risk. That is right!

What about ensuring that companies that own the poles and wires are not able to game the system and charge more and more, and add $6½ billion to consumers' costs? The reform that the minister for energy has announced is one that is consistent with the way that other utility sectors are treated, so it is thoroughly consistent. It removes an anomaly, it protects consumers and it protects businesses. And what does the member for McMahon say? 'Oh, it's a sovereign risk.'

I will tell you what the biggest sovereign risk in Australia is—a Labor government! We won't have one!