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

My question is to the Treasurer. A year ago, the Treasurer said, 'There's no such thing as new, cheap energy with a coal-fired power station.' Does the Treasurer stand by that remark?

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I stand by exactly what I said on this matter, because I made a simple observation.

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

Get your lump of coal out!

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

The member for McMahon!

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

If you've got a new coal-fired power station, it produces energy—

Mr Bowen interjecting—

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

The member for McMahon is warned!

Scott Morrison (Cook, Liberal Party, Treasurer) Share this | Link to this | Hansard source

at a higher cost than an existing coal-fired power station. That's why I am a strong supporter of keeping coal-fired power stations open for as long as possible. The only thing I don't understand is: why does the member for McMahon want to shut them down? Why does every single member over there, including the member for Hunter, want to turn the lights off on coal-fired power stations all around the country? Coal-fired power stations remain an important part of Australia's affordable, reliable energy supply, so why does the Labor Party want to shut them down and increase the energy costs for households and for businesses?

The Labor Party's plan on electricity is to put prices up. They want to increase the emissions reduction target to 45 per cent, which will increase power bills for Australians by about $190. That's what the leader of the Labor Party wants to do with people's power bills. What the Labor Party want to do with power bills for businesses is force their business prices up, because they have no plan to deliver affordable, reliable energy. On this side of the House, we have a plan which involves the National Energy Guarantee. We have a plan that has delivered on securing gas supplies for Australia. We have a plan that has delivered on removing the legal loopholes which were being used to drive up power prices. We had a plan to get rid of the carbon tax, and we got rid of the carbon tax—the one that you said you would never introduce. And that's exactly what they did. When it comes to electricity prices, you can't trust Labor. Under Labor, you will always pay more for everything.