Kate Lundy (ACT, Australian Labor Party, Minister Assisting for Industry and Innovation) Share this | Hansard source

As we can see, President Obama is working down the same path that Labor has. We are now approaching this in the only economically responsible way to reduce it, which is through a price on carbon. But we know these facts are an anathema to those opposite.

To achieve the same emissions reductions as our package the opposition would slug households $1,300 per year. Today, it has been revealed that they have dug another budget hole. Apparently Mr Abbott will repeal the carbon price immediately, and under the Liberals' plan the vast majority of industry assistance for the coming financial year will have already been paid out, yet the polluters will no longer be obliged to surrender their permits for their pollution. That is a $10 billion hit to their budget. They need to explain where that shortfall is coming from, otherwise they will be further exposed for their dishonesty in relation to their climate change policies.