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

The government laid out its plans in its clean energy package, which was announced some time ago. The government has brought forward legislation reflecting the clean energy package. That legislation has passed the parliament. That remains the position of the government. There are obviously other aspects of the clean energy package which are yet to pass the parliament, which I mentioned yesterday in the answer to which the senator is referring. I think there is legislation in relation to the Clean Energy Finance Corporation and other aspects of the clean energy package which obviously have to be legislated.

But the government has made its position clear. The reason the government's position is clear is that what we have put forward is an economically sensible package—a package which recognises that we want to shift to a lower polluting economy, a clean energy economy, but we want to do it at lowest cost to Australians. I again remind the chamber that those opposite, including the senator who asked me a question, support a five per cent reduction by 2020. That is what Mr Abbott has signed up for—the same emissions reduction as the government. The difference is your plan will cost more. The difference is you will impose more tax—$1,300 per household every year—in order to fund your policy, which will not work. We have a policy which will cost the economy less and which is connected with a tax reform package which will deliver a tax cut for every Australian earning under $80,000 a year, a tripling of the tax-free threshold. It is of itself a worthy reform. As I have said, it is good for second income earners, good for workforce participation and a good economic policy in its own right, and one of the key mechanisms by which the government will deliver assistance under its package, which is opposed by those opposite.