Ian Macfarlane (Groom, Liberal Party, Minister for Industry, Tourism and Resources) Share this | Hansard source

Well, that’s fixed him! I thank the member for Bowman for his question and also for his interest in ensuring that Australia’s economy continues to grow. In its climate change policy this government has the balance right between lowering emissions and maintaining economic growth. Companies like Xstrata, for instance, have benefited from that policy. Xstrata not only is the biggest exporter of coal in Australia but pays almost $1 billion in taxes, earns billions of dollars in exports and employs 5,000 people in the coal industry and some 3,000 people in the base metals industry, all of whose jobs would be in danger if the policies of those opposite and of their counterparts at a state level in regard to emissions trading were adopted.

Yesterday the states launched their plans for an emissions trading scheme, which by their own admission will increase the price of electricity and drive Australian industry, jobs and investment offshore. But don’t take my word for it—let us listen to what some Australian organisations have said. The Australian Chamber of Commerce and Industry have said that the states’ proposal will ‘reduce the international competitiveness of our strongest industries’. They go on to say: ‘On just about any rational policy measure it’s a failure, and more about political symbolism than achieving real results.’ There are even those in the Labor Party who would agree with that.

The Premier of Western Australia has rejected the scheme outright, saying it raises ‘a number of concerns for WA, including the possible impact on the WA economy and electricity costs for WA consumers’. In Queensland, Premier Beattie is trying to walk both sides of the street. In one breath he has described Australia’s emissions as ‘chickenfeed’ and yet in the same breath he has not committed Queensland either to supporting the scheme or to opposing the scheme. It is about time Peter Beattie stopped walking both sides of the street and was honest with Queenslanders about putting Australia’s interests first and about putting their jobs first. Any concerns state premiers may have will be swept aside if the Leader of the Opposition ever gets into power and puts in place his emission trading scheme. It will not only slow economic growth; it will increase the price of electricity and petrol and cost Australians jobs.

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