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

I will take the interjection from Senator Abetz. He says, 'It does not make it right.' It is interesting, because the opposition seem to want to disregard what Treasury tells them over and over again. We have had this constantly in the context of the carbon price and it is unsurprising that they therefore support a policy—'they' being the coalition—that no economist supports. Find us an economist who thinks that a taxpayer funded, bureaucratically driven, inefficient program is the best way and lowest cost way to support emissions.

In terms of international action, the government rejects any proposition that the opposition continue to make that other countries are not acting. I would make the point that some 90 countries, accounting for over 80 per cent of global emissions and 90 per cent of the global economy, have pledged to limit their carbon pollution by 2020. I would also make this point: without a cut price on carbon the risk for Australia would have been that we would be left behind as the world moves increasingly to place a premium on low carbon goods and services.

We on this side are Labor people, we support jobs. We also recognise that you have to look to future jobs and you have to look at how you position in the future. I think very few people would look around the world and believe you can be a first-rate economy and not also by a clean energy economy.