Jenny McAllister (NSW, Australian Labor Party, Shadow Assistant Minister for Families and Communities) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Cormann. This morning, former Prime Minister Turnbull said:

I strongly encourage my colleagues to work together to revive the national energy guarantee.

It was a vital piece of economic policy and it had strong support, none stronger than that of the current Prime Minister and the current Treasurer.

Opposition Senators:

Opposition senators interjecting—

Jenny McAllister (NSW, Australian Labor Party, Shadow Assistant Minister for Families and Communities) Share this | Link to this | Hansard source

Will Mr Morrison heed former Prime Minister Turnbull's advice and revive the National Energy Guarantee, which will lower prices for Australians?

Scott Ryan (President) Share this | Link to this | Hansard source

Order! I remind senators of my request for silence during the question being asked, on both sides.

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

I can confirm my answer to an earlier question. Under the Turnbull government, the policy on emissions reduction was to pursue a 26 per cent emissions reduction on 2005 levels by 2030. That continues to be our policy. Beyond that, we have announced our energy policy to bring electricity prices down and to ensure that electricity supplies are as reliable as they possibly can be to avoid the sorts of blackouts that we experienced under Labor state governments in years gone by. That is in four key parts. We are introducing a price safety net. We are stopping price gouging. We are backing investment in reliable power—supporting 24/7 reliable power. And today, of course, the Treasurer announced that we will be introducing the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2018, which is a bill that will provide a legislative framework to strengthen the government's ability to address misconduct in electricity markets. This is, of course, a bill which creates new prohibitions against certain misconduct in electricity retail, wholesale and contract markets which is detrimental to competition or consumers. It's a measure of last resort, but it's a demonstration of our commitment to ensure that we do absolutely everything we can to bring down electricity prices and to ensure that electricity suppliers are reliable. The policy on emissions reduction today is the same as it was under Mr Turnbull. It's the same as it was under Mr Abbott.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator McAllister, a supplementary question.

Jenny McAllister (NSW, Australian Labor Party, Shadow Assistant Minister for Families and Communities) Share this | Link to this | Hansard source

Former Prime Minister Turnbull went on to say, 'The abandonment of the National Energy Guarantee obviously creates a vacuum in terms of energy policy at the federal level.' Why is Mr Morrison allowing chaos, division and dysfunction to leave a vacuum of energy policy at the federal level?

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

I completely disagree with the premise of the question. Given that you are such a student of what Mr Turnbull has to say, I would encourage you to look at one of his recent tweets, where he pointed out that he does not support Labor's policy on energy. In fact, he doesn't support Labor's policy on emissions reductions. And that is our position; it was Mr Turnbull's position and it also was Mr Abbott's position. He points out quite rightly that Labor's 45 per cent emissions reduction target would be bad for the economy and bad for jobs. We have adopted an appropriate emissions reduction target, which is precisely the same as it was under the Turnbull government and which is precisely the same as it was under the Abbott government and beyond that. Of course, everybody across Australia is very clear that we are focused on driving down electricity prices and ensuring reliable supply, whereas under Labor electricity prices will go up and up because they'll bring back the carbon tax.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator McAllister, a final supplementary question.

Jenny McAllister (NSW, Australian Labor Party, Shadow Assistant Minister for Families and Communities) Share this | Link to this | Hansard source

Given the chief executive of Alinta Energy; the chief executive of the Australian Industry Group; the chief executive of the Business Council of Australia; the former deputy Liberal leader, Ms Bishop; and the former Prime Minister, Mr Turnbull, all agree on the NEG, when will the Prime Minister end the political dysfunction that has stalled much-needed investment and work with Labor to deliver a National Energy Guarantee?

Mathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Link to this | Hansard source

We are always open to Labor working with us on energy policy as long as you drop your reckless 45 per cent emissions reduction target, as long as you drop your plan for a job-destroying carbon tax and as long as you work with us on an environmental policy that is economically responsible. We are always open to working with the Labor opposition in a bipartisan fashion in the public interest, but it'll be on the terms of doing the right thing by the Australian people and not imposing sacrifices on Australian families in a way that doesn't actually make any difference to global greenhouse gas emissions. Your policy agenda would harm the economy and would just shift emissions overseas where, for the same level of economic output, emissions would be higher. Your agenda will actually worsen global greenhouse gas emissions rather than improve them because you will just shift emissions from Australia overseas, where emissions will be higher for the same level of economic output. It is reckless policy and it is not a policy the Australian people should be supporting.