Katy Gallagher (ACT, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister and the Minister for Finance, Senator Birmingham. How much will taxpayers have to pay for Mr Morrison's deal to get the National Party to agree to net zero by 2050?

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

This question is almost identical to the question Senator Gallagher asked me yesterday. Indeed, I will happily refer to the answer I gave yesterday. What this government will do is make sure that we invest, as we have done successfully since our election in 2013, to reduce emissions for the nation. Our emissions have been reducing at rates far in excess of many other nations around the world. They have reduced since 2005, as I said before, in excess of countries like Canada or Germany or United States or New Zealand. We will also do so through investments in a way that supports a transition in regional communities. In particular, confronting, as we do, the changed global environment in terms of changes in our commodities markets and changes in investment markets as other parts of the world make their decisions in relation to net zero, we see an even heightened importance in relation to backing and supporting Australian communities who will be impacted by those changed decisions happening overseas but who also face, in some cases, opportunities created by those changing environments overseas.

We'll be investing to back those communities—make no bones about it—as we have all along. Indeed, our investments all along have achieved the outcome of reducing emissions without the types of costs that those opposite, in the alternative policy regime, sought to place on those communities. Our approach of backing technology and incentives to drive investment towards emissions reduction is achieving outcomes—without the higher taxes on electricity costs, without the higher costs that hurt jobs and growth across the Australian economy. That was the formula of the Labor Party and those opposite. We have taken a different approach. And despite the fact that we were told time and time again by those opposite that our approach wouldn't see emissions go down, emissions have gone down, so have electricity prices. They've gone down, and jobs have gone up! That's the trifecta that we intend to continue to invest in and support. (Time expired)

Slade Brockman (WA, Liberal Party) Share this | Link to this | Hansard source

Senator Wong! I did miss the clock because there was so much interjecting happening from my left. Senator Gallagher, a supplementary question?

Katy Gallagher (ACT, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

Is the minister aware of any upper limit on the amount of taxpayer dollars Mr Morrison is willing to spend to secure an agreement with the National Party on net zero emissions by 2050? Is there an upper limit?

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

The first thing I'd observe is there was no limit on how much those opposite were happy to tax. There was no limit in terms of their willingness. What we will do, as we have demonstrated on our track record, is target investment to drive emissions down and protect jobs. We'll target investment to drive emissions down and keep electricity prices lower. We'll target investment to make sure that we drive emissions down and create new investment opportunities.

Slade Brockman (WA, Liberal Party) Share this | Link to this | Hansard source

Minister, please resume your seat. 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

On direct relevance, Mr President. The question was very tightly worded. It asks whether the finance minister can advise of any upper limit on how much the government will pay in taxpayers dollars to get a deal with the Nationals. It's not about emissions policy. It's not about the history of the Labor Party. It is about how much this finance minister is willing to spend of taxpayers' money on getting this deal.

Slade Brockman (WA, Liberal Party) Share this | Link to this | Hansard source

Senator Wong, you have brought the minister's attention back to the question. Minister, you have the call.

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

In relation to how much we invest, let me make this bold prediction. When we outline plans to invest in regional communities across Australia, I bet those opposite will support every dollar of that investment. I bet they won't be game to go to the next election saying they're withdrawing any of that investment.

Slade Brockman (WA, Liberal Party) Share this | Link to this | Hansard source

Minister, please resume your seat. 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

Again, on direct relevance. I think Senator Ryan said that, if there's a glancing blow, or something like that, about other parties' policies, we accept that. He's been asked whether there's any limit—is there an upper limit on how much he will spend? And he's talking about us. It cannot possibly be directly relevant, with respect.

Slade Brockman (WA, Liberal Party) Share this | Link to this | Hansard source

The minister was addressing the substance of the question. I will bring the minister back to the question again. Minister, you have 11 seconds.

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

As always, we will do what is necessary to protect the jobs, the security, the prosperity of Australians. We will make sure we invest where necessary for the benefit of Australians for their future. (Time expired)

Slade Brockman (WA, Liberal Party) Share this | Link to this | Hansard source

Senator Gallagher, a second supplementary question?

Katy Gallagher (ACT, Australian Labor Party, Shadow Minister for Finance) Share this | Link to this | Hansard source

Perhaps the finance minister can assist us with this. Is there any provision in the budget for this deal?

Simon Birmingham (SA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

There are, indeed, many billions of dollars in the budget that we are investing already in emissions reduction activities, that we're investing already in supporting regional growth activities. I need only point you to the investments in our agriculture 2030 agenda; to the investments in our modern manufacturing agenda; to the investments into other aspects of our regional growth agenda; to the investments we're making in terms of meeting the stretched goals and targets in relation to emissions reductions; to the investments in terms of hydrogen hubs—seven of them—that we are committed to establishing right across the country; to the investments that we are making in terms of driving new carbon storage opportunities; to the investments that we're making in terms of Snowy 2.0, which, if I look just down the road, happens to be in a regional part of Australia. Regional investment delivering a lower emissions environment that will support lower electricity prices in the future. That is, indeed, what we will continue to invest in and pursue: lower emissions, more jobs, lower electricity prices. (Time expired)