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

It is always ironic when Senator Abetz—and also Senator Brandis—accuse me of giving homilies! Even Senator Mason thinks that is amusing. I did in fact answer the Coogee Chemicals issue. I spoke specifically about our advice about the effect on such a new plant. If you are getting in excess of 100 per cent of your liability then it is hard to see how a carbon price would be an impost on the facility. So I have responded in detail to that.

In relation to China I want to say that I think it is extremely unfortunate that the opposition continue to make some pretty thinly veiled attacks on the government because of something China does. I would make this point. China has the world's largest installed renewable energy generation. In 2009, China added 37 gigawatts of renewable power capacity, more than any other country in the world. Everyone knows China is an economy on the rise. Perhaps Australia and the opposition should take some note of the fact that this growing economy wants to get ahead in the clean energy space. What does that say about where China believes the global economy will move? I also make the point that China has indicated it will introduce—