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

I can confirm that the European Union already has an emissions trading scheme in place and that the US congress has already passed a cap-and-trade scheme through its House of Representatives. I can confirm that the leading economies of the world and the declaration at the G8 made clear that cap-and-trade was the way to go—strong endorsement that cap-and-trade was the way to go. It is a little bit like deja vu. I am reminded of the excuses that those opposite, when in government, kept giving the Australian people about why they should not ratify Kyoto.