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

The government has very carefully designed the clean energy future package to ensure that we preserve the competitiveness of Australian industry whilst we also ensure we give the right incentives for investment in the clean energy jobs of tomorrow. Those opposite might recall that one large component of the Jobs and Competitiveness package in relation to the emissions intensive and trade exposed sector was actually the design that was originally negotiated by Mr Turnbull which, for a period of time, they supported. It is the case that a very substantial amount of assistance is being provided through the Jobs and Competitive package, which reflects the importance of supporting the competitiveness of Australian industry. I would also make the point that today we saw not only the Bloomberg report to which the senator referred but the release of the Climate Institute study which laid out the risks to the economy of not pricing carbon and the risks of falling further behind. That report found that Australia is among more than 100 nations which have climate policies targeting pollution limits and clean energy. I also note that report indicated the expectation that Britain would have a carbon price of $24 to $34 a tonne; Sweden $130 a tonne; Switzerland $30 to $60 a tonne; Norway $53 a tonne and Ireland $24 to 37 a tonne. As I said, the government is very much of the view that you need to preserve the competitiveness of Australia's industry, at the same time giving incentive for investment in the clean energy jobs of tomorrow. That is what the package we have negotiated, which has been passed by this chamber, does. I have no doubt those opposite us will continue a fear campaign. That is their only answer when it comes to climate change. The government is very clear about why this is important long term. (Time expired)