Senate debates
Wednesday, 25 November 2009
Carbon Pollution Reduction Scheme Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Consequential Amendments) Bill 2009 [No. 2]; Australian Climate Change Regulatory Authority Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Customs) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Excise) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — General) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 [No. 2]; Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Customs Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme Amendment (Household Assistance) Bill 2009 [No. 2]
In Committee
9:09 pm
Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source
I am advised—and this is how I should have answered your question, with hindsight—that the five per cent modelling and costings assume what we call a 550 ppm scenario. The Garnaut 25 per cent assumed a 450 ppm scenario. Obviously one is a greater level of reduction than the other and has a consequently higher carbon price. The greater the level of reduction, the higher you would anticipate the carbon price to be.
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