Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Hansard source

Mr President, given the minister's answer, I ask the following supplementary question. Is the minister aware that this USB research also found that had the $287 billion which the European ETS cost instead been invested in direct action to replace the EU's dirtiest power plants, emissions could have been reduced by 43 per cent instead of having almost zero impact on the back of emissions trading? Does that finding not demonstrate that well-targeted direct action is more cost-effective than Labor's great big new carbon tax?