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

I thank the senator for what I believe will be his last question—although I have to say I anticipated it would be on the Public Service.

Senator Ian Macdonald interjecting—

Senator Macdonald is demonstrating the hubris for which he has become so loved on his side. If he could see their heads drop whenever he talks, he would know with what regard he is not held. Anyway, I digress. I thank the senator for what I understand will be his last question in this place. I think there are a couple of propositions to which I should respond. The first one is the principle of a carbon price. I do recall that Senator Humphries was at one time among those senators who understood the importance of pricing carbon—and the importance of carbon pricing was of course clearly understood by Prime Minister Howard. Our party has been very clear in our continued advocacy and delivery of a price on carbon—at times in very difficult political circumstances because of the partisanship that was demonstrated by those opposite.

The second point on the question is the proposition in relation to international action. This is a sort of Liberal version of the National Party saying that we do not want any foreign investment; we do not want to pretend there is any global economy out there that we are part of. The facts are that action is being taken in many countries around the world. I make the point and am happy to come back to this: we are seeing action in California and nine other US states; Korea has legislated its national emissions trading scheme; Japan introduced a carbon price, carbon taxes; and new regional emissions trading schemes have commenced in Canada— (Time expired)