Brett Mason (Queensland, Liberal Party, Shadow Minister for Universities and Research) Share this | Hansard source

I was in quiet mode! However, I will do my best. Suffice to say that none of the comparable countries—Brazil, Russia, India, China, Canada and the United States—are doing virtually nothing at all. China was mentioned—let me get to that in a minute. I am told, after today's performance from Senator Ludwig, that the government stands behind the $29 per tonne prediction. Today, the price in Europe is $8 a tonne. So it has got to rise 350 per cent in the next three years otherwise the government's budget predictions are out and there is no way they can fulfil their budgetary forecasts or return to surplus. It has got to go up 350 per cent over the next three years so they can balance their budget. Who thinks the European carbon price will go up 3½ times in three years? Who believes that, except Senator Thorp? No-one on earth believes that. If it does not happen—and it will not—this lot opposite will never, ever be able to balance their budgets. That is the problem. That is the farce of this entire scheme. From the word go, this has been an absolute fiasco.

We have got a Prime Minster and a government that believe unilateral action by the Australian government ahead of the world is good public policy. They believe even if the United States, Britain, Russia, India, China and Canada do nothing, it is in our national interest to adopt a carbon price. Why are those countries not adopting a carbon price? Because it will harm their economies. It is already harming ours. The cost of living in this country is going up. The cost for business is going up. If that is not bad enough, it is making no impact at all on the climate—none. Is it having any impact on carbon emissions in Australia? No. They are still going up, even if somewhat more slowly. It is having no impact on the carbon emissions and no impact on the climate. We are stuck with this blasted tax forever.

In the end, Mr Deputy President, never forget—and Senator Macdonald's question highlighted this—when the carbon floor price is not met, and it will not be met at $29 per tonne, their budget will be blasted to hell. They will never be able to balance another budget for another hundred years. We will never, ever let the Australian community forget what they have done to our country.