Eric Abetz (Tasmania, Liberal Party, Deputy Leader of the Opposition in the Senate) Share this | Hansard source

With great respect, Minister, I understand the modelling that was undertaken. But we have already heard from you that modelling was undertaken on the basis of an Australian population of 33 million, which has now blown out within 12 months to 35 million. I would have thought if you are confronted with a new and fresh study—as we have now received courtesy of the Daily Telegraph, suggesting that electricity prices in New South Wales will soar by a staggering 60 per cent over the next three years and that 50 per cent of that 60 per cent increase is in fact due to the CPRS—it is no good, with great respect, just saying what your original modelling told you. I want to know why this particular modelling, why this particular study, is wrong.

You have already admitted that the population figure is wrong. I would be very interested to know why this New South Wales Labor government report—let us be quite clear on this: a state Labor government report—has come to this finding. It would be great if their findings were wrong but I think the people of Australia, particularly in New South Wales, are entitled to know the rationale for why this is wrong. I do not think they will have much faith in just a glib answer, given that it is now on the record that the modelling in relation to Australia’s population within 12 months has already blown out by two million. If we were to model that error out until 2050, I daresay we would have a very big population by 2050. Let us not rely on modelling that was done in the past. Let us just deal with the study undertaken not by some coalition but by the New South Wales Labor government. Tell us why it is wrong.