Michaelia Cash (WA, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | Hansard source

I too rise to speak on this Safeguard Mechanism (Crediting) Amendment Bill 2023. Despite its name, what is going to become very apparent, throughout the course of this debate, is there is nothing safe about this bill.

In the first instance, what do we know? What we know is the Greens tail is, yet again, wagging the Labor dog. Why do we say that? Because we've seen a big announcement that a dirty deal has, yet again, been done with the Australian Labor Party and the Australian Greens. The government has—yet again, because it is the Greens tail wagging the Labor dog—capitulated to the demands of the Greens. In capitulating to the demands of the Greens, what has the government actually done? It is literally ensuring an energy crisis for our country.

I know that Senator Duniam, in leading the debate from the opposition side, would love to have spoken about the dirty deal that's been done with the Australian Greens. But, as he reminds me, despite Senator Waters standing up and talking about the deal, talking about the amendments that are going to be moved, what is so disappointing in coming to this debate—of what is an incredibly complex piece of legislation—is not one amendment has been tabled by either the government or the Australian Greens. And you have the audacity to say that we are not participating, in this debate, in good faith.

Let me be very, very clear. Those of us on this side of the chamber support action on climate change. In fact, not only do we support action on climate change but also we have a track record in government of delivering action on climate change. But guess what we will never ever do? We will never support doing it like those on the other side are about to do tonight and tomorrow: by putting in place economy-wrecking measures like this terrible bill does.

When I reflect on the nine years that we had in government, our record is a very clear. Our record stands. We have been able to reduce emissions to reach a cleaner future, but, at the same time—and this is the balance that those on the other side don't have any regard to—ensuring Australia remains strong, prosperous and independent. Let's look at what we did manage to achieve.

The economy, whilst achieving emissions reductions, was still able to grow by 23 per cent over nine years in office. We met and exceeded Australia's Kyoto target, we signed Australia on to achieving net zero by 2050 and we reduced emissions by over 20 per cent on our 2005 base level. In fact, what that did was put Australia well on track to meet and beat our Paris treaty commitments. So guess what? You can take action on climate change but, at the same time, do it responsibly so that you don't destroy the economy. You see, when you destroy the economy you destroy jobs.

What we are seeing now, as the bill is now being debated in the Australian Senate, is quite literally—major coal companies have come out tonight, it's being reported, and they are warning this, and these are the people who would know what the impact of this legislation is going to have—the experts are saying this: they are warning that Anthony Albanese's deal with the Greens to pass Labor's signature climate policy is 'a carbon tax by stealth' and this is the problem 'that will drive up energy prices, destroy jobs and kill foreign investment'. That is a recipe for disaster. That is what the experts are saying. It will drive up energy prices, destroy jobs and kill foreign investment.

Whitehaven, New Hope, Bowen Coking Coal and Peabody Australia have condemned Labor's 11th hour safeguard mechanism shake-up amid concerns—this is them talking, those who would know, the experts—as Senator Duniam said, that the changes would damage prosperity and make it harder and more expensive to reduce emissions, which is a little ironic given the purpose of the bill is to reduce emissions.

This is what's so interesting about these companies. They collectively represent $15 billion worth of a fossil fuel projects and count billions of dollars of investment in their pipeline. Now, 'investment in their pipeline' actually means more jobs, but let's not worry about that. They actually say this as well: 'The government's proposed amendments will make Australia uncompetitive.' This goes back to driving up energy prices, destroying jobs and killing foreign investment, with the assessment being that this bill, if and when it passes—and we know it will, because a dirty deal has been done—will actually make Australia uncompetitive. Who in their right mind would not listen to the experts, who are saying that Australia is going to become uncompetitive—you're going to drive up energy prices, destroy jobs and kill foreign investment—unless you're an ideological zealot and you do not care about the impact of this bill on Australia and Australians?

When we were in government, we did take action on climate change, but I tell you: we'd never take action on climate change that compromised Australians' jobs and compromised their cost of living in terms of being unable to turn the lights on. How many reports do you need to hear as a government—10 months in—of people having to choose between turning their lights on and eating, turning their lights on and paying their mortgage, and turning the lights on an paying the school fees?