Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Cormann. Can the minister guarantee that the government's deal with Centre Alliance will deliver domestic gas prices of $7 per gigajoule or less, as demanded by Senator Patrick?

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

What I can guarantee is that, as a result of the decision of Centre Alliance senators—and Senator Lambie and Senator Bernardi, of course—millions of hardworking Australians will get to keep more of their own money.

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

Fantastic—12 seconds in, and our first point of order!

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

I asked about gas prices. Will the minister guarantee that the Prime Minister's deal with Centre Alliance will deliver domestic gas prices of $7 per gigajoule or less, as demanded by Senator Patrick?

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

Order! The question was specific. It also referred to a deal. I will allow the minister more than 12 seconds to get to the specifics of the question. I believe he's being directly relevant at the moment.

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

It's good to be back! As I was saying, as a result of the decision by Senators Griff, Patrick, Lambie and Bernardi to support the government's plan for lower income taxes for all working Australians, millions of Australians will get to keep more of their own money. That is going to be good for them, it's going to be good for the economy, it's going to be good for jobs and, of course, it's what the Australian people voted for.

It is, of course, well understood that the government has got a longstanding policy commitment to bring down the price of electricity, including by boosting the supply of gas into the domestic market. Senator Canavan has done an outstanding job, together with Minister Taylor, in helping to bring that about. I think that Senator Canavan would be able to tell you that gas prices today across the east coast market are actually substantially lower than they were at their peak, and, of course, our policy measures so far have had a significant impact. But of course we want to do more.

Let me tell you: you know what the Labor Party were doing while Senator Patrick and Senator Griff were talking to us about public policy? While Senator Lambie was advocating public policy positions with us, do you know what the Labor Party were doing? They were drafting an amendment to change the title of the bill. That is the substantial policy work of the Australian Labor Party after the 2019 election. After the Australian people firmly rejected your high-taxing agenda and your politics of envy, because they knew it would make Australia weaker and would make Australians poorer, here you are; your most substantial contribution to policy debate is to come up with an amendment to change the title of the bill. That is just ridiculous.

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

Senator Wong, a supplementary question.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

I note no guarantee. Senator Patrick has also indicated that the arrangement would require:

… a range of measures, including limits on future gas exports and greater transparency on existing deals.

including 'a gas reservation policy'. Can the minister outline how the gas reservation will apply to current and prospective projects and what impact it will have on gas prices?

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

What I can confirm for Senator Wong is that today the Senate will have the opportunity to keep faith with the verdict of the Australian people at the last election—that is, by passing income tax relief for all working Australians in full.

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

Senator Wong, on a point of order.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

We had the entire primary question where he did not answer the question on gas prices. Are you going to allow him to avoid it again?

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

Senator Cormann, this was a very specific supplementary question that referred only to gas prices or gas policy. I remind you of the question.

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

It's a matter of public record that the government has got a longstanding policy commitment to bring down the price of electricity, including by boosting the supply of gas into the domestic market. It's also a matter of public record that the government has been engaged in positive and constructive conversations with relevant crossbench senators—those crossbench senators who wanted to pursue and raise issues with us—and we have—

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

Senator Wong, on a point of order.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

The point of order is direct relevance. I asked about the gas reservation policy that the government has agreed.

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

The minister is also entitled to address the preamble to the question. It was slightly more general in nature, quoting Senator Patrick. I consider the minister to be directly relevant to that part of the question at this stage.

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

As I was saying, we have a longstanding track record and a very comprehensive agenda to bring down the cost of electricity, including by boosting supply of gas into the domestic market. We have discussed that agenda with relevant crossbench senators who were interested in engaging with us constructively and positively, while the Labor Party was drafting amendments to change the title of the income tax reduction bill. (Time expired)

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

Senator Wong, a final supplementary question.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

How will the government meet Senator Patrick's demand to deliver domestic gas prices of $7 per gigajoule or less? Can the minister guarantee the price cut will flow through to consumers and, if so, can the minister indicate what price reduction consumers will see?

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

Firstly, I'll let Senator Patrick talk for himself. On behalf of the government, I will say that we have a longstanding commitment to bring down electricity prices, including through sensible reforms to policy settings, in order to ensure we can boost the supply of gas into the domestic electricity market. That's something that is a matter of record. Indeed, Senator Canavan is always exploring new policy options to ensure that we can bring electricity prices down further. He is always looking for ways to do more. It's been really good to engage with some constructive and positive senators who are keen to work with the government to deliver better policy outcomes for the nation, instead of the political tactics of the Labor Party, which is to move an amendment to change the title of the bill. I wonder how long it would have taken them to take that through caucus. (Time expired)