Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

We know that a market price is the best way, the least-cost way, of reducing carbon pollution. We also know that in doing that our economy does have to make a transition, because we have to reduce emissions and we have to do it particularly when it involves some of those institutions, such as power stations, which are emitting very large amounts of carbon pollution. Those on that side of the House, in name anyway, share something in common with the government—that is, they have a commitment to reduce emissions by up to five per cent. So everybody in this House knows that we will have to reduce our emissions, particularly from those power stations which are least efficient. That is well known by everybody on both sides of the House, and we should stop the hypocrisy that is coming from that side of the House, which somehow pretends that there will not be some actions taken in this area.

What this government is committed to, however, is ensuring the energy security of our nation. We are absolutely committed to that. We are absolutely committed to assisting our energy-intensive trade-exposed industries in that transition. So we have said very clearly about the revenue which will be raised from a price on carbon that it will go to households but also to industry. We have made that very clear because we, unlike many on that side of the House, understand and believe in the science of climate change and we cannot put our heads in the sand and ignore this challenge. So with us you will get a clear plan for the future which will assist households and a clear plan for the future which will assist industry. That stands in stark—

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