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

There are a range of assumptions in that question with which the government does not agree. There is a proposition in which the Liberal Party used to believe but no longer do, which is if you want to reduce emissions you should do so at the lowest cost. We are doing so at the lowest cost. We are pricing carbon and we are utilising a market mechanism. That is the sensible economic policy. We are also supporting jobs through the transition by a very substantial jobs and competitiveness program, to assist industries, including aluminium, which will be provided with assistance. I would make this point. Those opposite appear to be saying that we should not impose a cost. They will impose a great cost. They have the same environmental objective and the Australian Treasury has made clear—these are the people who want the modelling—that you will double the cost to Australian business. (Time expired)