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

We will introduce a carbon price because it is the right thing to do for the economy and for the environment. We know from the Treasury modelling that jobs will grow strongly under a carbon price, so the senator is wrong. National employment is expected to increase by 1.6 million jobs by 2020. Incomes will grow strongly under a carbon price, rising by about $9,000 in today's terms by 2020. Domestic emissions under carbon pricing will fall to nearly half what they would be without carbon pricing by 2050. In other words, Senator Cormann's question is full of falsehoods. The reality is that the reason the opposition want to say those things—things which they know not to be true—is that they simply do not want to engage in any real reform. They simply want a scare campaign. We will proceed with this reform. It is the right thing for the economy and for the environment. (Time expired)