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

Thank you, Senator Milne, for your question. The government supports the G20 commitment from the Pittsburgh summit to rationalise or phase out inefficient fuel subsidies that encourage wasteful consumption. Australia’s response on this matter was finalised and submitted to the G20 on 11 June 2010 after the G20 finance ministers meeting in Busan in Korea, which the Treasurer, Mr Swan, attended some two weeks ago. The G20 energy experts group is compiling a report to leaders based on submissions from the G20 members. It is not appropriate for me today to pre-empt the processes. There is a meeting later this month, as I understand it, in Toronto. It is on 26 and 27 June. The government understands that the publication of the response of the G20 members to the commitment will be discussed at the forthcoming leaders summit in Toronto.

Obviously, Australia will be outlining its position in detail at that meeting in Toronto. There will be, I am sure, very extensive discussion about the issue of the rationalising of fuel subsidies that encourage wasteful consumption. So, with respect, Senator Milne, we have to be a little patient for a couple of weeks longer to see what the outcomes—