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

We have a price on carbon, which has the broad support of a whole range of industry organisations, and the broad support of the International Monetary Fund, the OECD and the World Bank. And of course any responsible industry organisation in this country understands that we need to price carbon. Peter Voser from Shell has said so very clearly today. Most of the big international companies operating in this country already have a price on carbon factored into their business plans. So the weight of evidence is behind a price on carbon. The weight of evidence globally and nationally is behind it.

But I will tell you what we are seeing here. We are seeing here a failure of leadership from that side of the House. We are facing up to the big challenges of the 21st century—growing our economy, being environmentally responsible, making sure that what grows here is sustainable for future generations, for our children and our grandchildren, and doing it in a way which is economically responsible and economically rational. If you look at the report from the Productivity Commission, you will see they have endorsed the way in which we are putting a price on carbon. If you look at the modelling from the Treasury, it shows that the economy will continue to grow, that wealth will continue to be created.

Mr Abbott interjecting—

We know that if we drive the investment in renewable energy and energy efficiency, we will be much more prosperous.

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