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

You have not come to us with a position supported by your party room when it comes to the Carbon Pollution Reduction Scheme. The more you interject on this, Senator, and thrash around, the more you demonstrate the ridiculous position that the coalition has been in when it comes to action on climate change. You cannot even put forward amendments on a policy that is of such national importance. You cannot even do that.

On the Climate Change Action Fund, Senator Joyce, you asked about the revenue source. The revenue source is the auction revenue from the permits under the CPRS. My recollection is that there is some budget funding in the 2010-11 year but it is balanced over the forward estimates. All of those details were laid out first in the white paper released in December and were indicated in the budget papers released in May. If you want a Climate Change Action Fund, the source of the revenue is CPRS revenue—the scheme you have voted against.

Senator Abetz said, ‘If this is not the fairest system, what is?’ Senator Abetz, it is the one you have supported. We are very pleased that you are supporting that. I will just remind you again of what you signed up for. The government will replicate the industry assistance provisions from the CPRS for the purpose of the RET. The government will use the same eligibility thresholds under the CPRS as for the RET. A separate eligibility assessment process for activities that will be provided partial exemption under the RET will not be necessary. As CPRS eligibility assessments are finalised, these will be used as the basis to determine eligibility under the RET and prepare appropriate regulations. It is a pity you were not briefed sufficiently, Senator Abetz. It is a fairer system—