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

I have answered that question in relation to the carbon price impact for the relevant turkey farmer on his electricity bill. If the senator is interested in the agricultural sector, I would remind him that the government has put in place the Carbon Farming Initiative. That is a $1.7 billion land sector package to reinvest carbon price revenue in our land sector, including through the Biodiversity Fund and the Carbon Farming Futures package.

I also note that the Treasury modelling shows that, with agricultural emissions excluded from the carbon price, gross output in the agricultural sector is projected to be higher with a carbon price than without, and the sector is projected to grow by over 130 per cent by 2050. That modelling does not, of course, include the programs for assistance to the sector in the clean energy future package.