Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

In the Liberal-National Parties we talk about policies and we're not frightened to engage in policy debate, unlike the leader of the Labor Party who is too scared even to take a proposal for higher tax on small business to his Labor caucus. The government's National Energy Guarantee will cut electricity prices by ending subsidies for energy, which are passed on to all consumers, of course, putting prices up; create a level playing field that ensures that all types of energy are part of Australia's energy mix; provide certainty for investors, because more certainty will mean more supply and in turn lower prices; reduce volatility by ensuring that reliable energy sources which provide power when it's needed can be guaranteed; and ensure that Australians will be $300 a year better off than they would be under Labor. Under Labor, not only will Australians earn less but they will have to pay more. Not only will they earn less—because the economy will be weaker; there'll be fewer jobs, higher unemployment and lower wages—but they will have to pay more for their electricity. (Time expired)