Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the shadow Treasurer for his question and I thank him for the fact that in the past he has very clearly said things like, 'Inevitably we will have a price on carbon, we will have to.' He has proudly talked about how the Howard government were the initiators of the idea of an emissions trading scheme and how they went to an election promising it and so on. I thank the shadow Treasurer for his fulsome support of carbon pricing and, no doubt, it drives his interest in internationally linked carbon markets.

When we look at carbon pricing around the world, we obviously see a variety of prices in different schemes. We have seen volatility in prices in Europe. That is unsurprising, given we have seen volatility on all markets in Europe, given the nature of the economic circumstances there. What the government has done in addressing the starting price for our carbon pricing scheme is to work out the appropriate price to drive a change in our economy to a clean energy future at the least cost. I am sure the shadow Treasurer is very distressed, given his support for emissions trading and carbon pricing, that instead of this most efficient, effective and least cost approach he is committed through the Leader of the Opposition—

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