Marise Payne (NSW, Liberal Party, Minister for Human Services) Share this | Hansard source

I thank Senator McGrath for his supplementary question. We have had the opportunity to identify some of the sectors which will suffer the most. It is interesting to start with something like the financial services sector, who warn that if not progressed 'the cost to our economy will be more than $4 billion' and some '10,000 jobs in financial services alone by 2030'. In agriculture, the NFF has advised that delay will cost agriculture alone $300 million in 2016—in one year—with untold flow-on effects to rural and regional communities. There may be no-one opposite who cares about those, but we on this side most certainly do—and Senator McGrath in particular in relation to the rural and regional communities of Queensland, which will rely on the ChAFTA opening up opportunities for them. Failure to ratify will, for example, cost the red meat industry $100 million, dairy up to $60 million, wine up to $50 million and grains more than $43 million. (Time expired)