Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source

Thank you to Senator Milne for the question. I am pleased that the Greens recognise the importance of yesterday’s announcement and the massive investment in energy efficiency the government made as part of the Nation Building and Jobs Plan announced by the Prime Minister. It is an almost $4 billion investment—and, in fact, it is in excess of $4 billion if you count existing expenditure over the forward estimates. It is an enormous investment in energy efficiency measures. The government has always recognised that there are enormous economic opportunities in adjusting to a low-carbon future and in building an economy that is capable of competing in a world where there is global carbon constraint. Where we differ from the Greens, however, is that we recognise the enormous challenge—the hard economic challenge—of making that transition in an economy which is one of the most carbon intensive in the world and in circumstances where there is not a policy magic wand that immediately transforms the Australian economy from a highly carbon intensive economy to the low-pollution economy we do want to build.

So I am grateful that Senator Milne recognises the historic investment in energy efficiency that was announced yesterday, not only an investment that will support jobs for those who are participating in the installation of insulation or solar hot water panels but also a historic investment in energy efficiency to reduce Australia’s emissions. However, the government also recognises that this is a hard economic challenge. This is a transition that needs to be made over a number of decades. That is why we need a scheme to drive that type of economic change in the years and decades to come so we can secure today’s jobs by building tomorrow’s. (Time expired)