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

No, I would not agree. I think that question is a more polite way of putting the same sort of scare campaign we have seen from Mr Abbott. The government is providing, in addition to the $1.3 billion, the Coal Abatement Technology Support Package of $70 million, to support the development and implementation of abatement technologies. This would enable gassy coal mines to reduce emissions and therefore reduce their exposure to the carbon price. I am advised that, after taking into account assistance for gassy mines, the average impact of a $23 carbon price on all coal mines for their emissions is less than $1.90 per tonne of coal. As you would know, there have been significant increases of far greater proportions in coking coal prices and thermal coal prices over the last few years. So I would not agree with the senator's proposition about closing mines. He has put politely the same thing that the opposition has been putting for some time, which is simply not borne out on the facts and not borne out in terms of the investment decisions in the market.