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

I have read the press release. I have also read Mr Truss’s press release. As I said, the industry is eligible for 94½ per cent of free permits issued. I will give some indication, for Senator Macdonald’s edification, of the sort of cost impact that is therefore reduced. In 2011-12, under the fixed carbon price, the government’s package would reduce the carbon cost from under $8 per tonne of cement to around $1 per tonne. This is in relation to a product which I think has been identified by the industry as selling for about $120 a tonne. So the government’s policy, through the CPRS in the first year, reduces the impost from about $8 a tonne to $1 a tonne, in the context of the 2007 cement price of $120 a tonne. It is the case that in the second year there is a floating price. (Time expired)