Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

I support the Treasurer’s clear position on this and I am sure that it is the position of everybody in the government that the question of whether or not there should be a price signal on carbon is quite a separate issue from the question of whether or not nuclear power is an economically feasible option for Australia in its energy mix. The two things are quite separate and in no circumstances should it be said or asserted that in order to make nuclear viable this government will therefore move in the direction of some sort of carbon tax or carbon pricing. The two issues are separate to the extent that Australia needs to address the first question of whether or not some sort of carbon pricing should be part of our response to global climate change. There is a separate question as to whether nuclear power should be part of the energy mix of Australia.

On the first question what is remarkable is that the Labor Party is proposing that Australia go it alone on an emissions-trading system. It is Labor that is proposing that Australia price itself out of world markets, price its energy intensive industries out of world markets and put people out of work in those energy intensive industries by going it alone on a carbon-pricing scheme. It is no wonder the Labor Party is divided on this question, with people like Mr Ferguson and Mr Fitzgibbon extremely alarmed at the sorts of statements which Mr Albanese and others are making on this very question. They know and they have the intelligence to understand that if Australia goes it alone on such an issue you will have a disinvestment in this country, and the export of energy intensive industries and the jobs that go with them for absolutely no gain to the globe in terms of reduction in greenhouse gas emissions.

Our policy is quite clear. We are prepared to contemplate some sort of pricing signal for carbon if it is part of a global approach—one that will not unfairly disadvantage this country, one based on everybody understanding this issue and being part of a global solution. Otherwise, you simply get the industries that are greenhouse gas intensive moving into those countries that are not part of a carbon-pricing system. That will simply disadvantage this country and put people out of work, with no benefit for the globe.

As to nuclear power, I have not yet had the privilege of reading all of the draft report from Mr Switkowski. It is out for discussion until 12 December, and then he will issue a final report. I look forward to reading it in that interim period and I encourage all those opposite to read the report.

What is extraordinary is that the Labor Party is jumping on the catastrophists’ bandwagon and running around adding to the hysteria about this issue, saying that Australia must go it alone on pricing carbon. But, oh no, we cannot even think about or contemplate the possibility that at some stage down the track nuclear power should be part of Australia’s energy mix. That is the extraordinary phenomenon we have today: a quite hypocritical, ludicrous position on the part of the Labor Party. We are prepared to contemplate the possibility that nuclear power may have a role to play in Australia’s energy mix down the track. Switkowski makes clear it is not currently economically viable. Circumstances will have to change before it could be economically viable. One of the changes that might make it viable would be if there was a global carbon emissions trading scheme put in place. That is not currently the case but it is something Australia is prepared to engage in.