Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

Senator Williams, again I refer you to the website. You will find that most illuminating. The Climate Change Action Fund will be established to assist business transition to a cleaner economy. It will be available to assist industry in terms of new investment in new technologies and new processes to ensure that we actually see new jobs created in Australia and that we will be able to provide new business opportunities for firms in Australia. Limited direct assistance will be provided to the existing coal-fired electricity generators, delivered in part through a new electricity sector adjustment scheme. These measures together—in terms of the assistance to households, particularly low-income households, and the assistance to industry—will ensure that this country is in a much stronger position than it would otherwise be to deal with the challenges of climate change.