Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

If you have a look at the pipeline of investment into Western Australia, I think the market itself has made clear the likely prospects for that state. Even factoring in a carbon price, we are seeing a massive investment in the resources sector, particularly in Western Australia. In fact, the senator himself has been spruiking that here in this chamber. So it is really quite disingenuous of him to come in here and suggest in any way that the carbon price is somehow going to destroy the Western Australian economy. He knows that proposition is not true. I would remind him that the Australian Treasury has released modelling which shows that the Western Australian economy will enjoy strong growth under a carbon price: a 51 per cent growth by 2020 and in excess of 200 per cent by 2050.

Senator Brandis interjecting—

These are the same people who advised Mr Costello, Senator Brandis. (Time expired)