Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

The Rudd government is determined to act in the national interest—indeed, I note that the former Howard government was also determined to act in the national interest—to help protect Australian families from the worst effects of dangerous climate change. Action on climate change is in the national interest because the cost of doing nothing on climate change is higher than the cost of action. The cost to Australian families of doing nothing will be lost jobs, less rain, more heatwaves and more extreme weather events. I acknowledge that former Prime Minister Howard accepted that this was the case and he put forward what I thought was a very impressive policy on behalf of the Liberal-National Party—not as impressive as the Rudd Labor government’s policy but at least he acknowledged the reality of the situation. The cost to Australian families of doing nothing, let me repeat, will be lost jobs, less rain, more heatwaves and more extreme weather events. People who work in the rural and regional areas of Australia, particularly our farming community, would be all too well aware of the impact of extreme weather events, which will become worse and worse.

So the cost of allowing dangerous climate change to run its destructive course will be higher than the cost of acting to move to a low carbon prosperous future. More and more of the world is moving to a low carbon future, driven by the reality that most countries are applying a carbon constraint, whether through regulation or an explicit price on carbon. Modelling shows that economies that act early face long-term costs that are around 15 per cent lower. Modelling shows that all areas of the economy will be able to reduce their carbon pollution while continuing to produce and deliver their goods and services. (Time expired)