Joe Ludwig (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Hansard source

Perhaps to help Senator Joyce so that he does not make the same mistake on foreign investment: the government's auction policy is not about the budget bottom line or maximising revenue; it is there to transition to an emissions trading scheme in a predictable and efficient manner. It provides for efficient price discovery in the marketplace.

Senator Joyce interjecting—

Obviously, you do not want to hear the answer to your question, Senator Joyce. The final auction arrangement, which is about how we transition to an ETS, will be through a legislative instrument which we intend to make early next year, after further consultation with stakeholders. The pollution cap will be set in 2014 after advice from the Climate Change Authority. That is the system we will employ to move from a fixed price to an emissions trading scheme. (Time expired)