Bruce Billson (Dunkley, Liberal Party, Minister for Small Business) Share this | Hansard source

claiming that the abolition of the carbon tax will reduce cost-of-living pressure and deliver benefits for households. That is exactly why this government is adamant we have to get on with it.

Instead of doing what they claimed they would and 'terminating the tax', which was Labor's line, they have actually voted three times in this place to escalate the tax and then extend it to heavy freight. That is their ambition. We are aiming to get rid of this carbon tax. We want to deliver those savings that Labor seemed to recognise in government but seem to have forgotten about now they are in opposition. It is $550 that the average household will benefit, lifting a multibillion-dollar impost on business that is good fit jobs, great for small business, terrific for viability of our enterprises, good for our competitiveness and great for our growth prospects.

We have also seen some questioning about our belief that the savings must and will be passed on. You have heard the ACCC commissioner Rod Simms say that 'what went up will clearly come down when you take away the carbon tax'. For gas consumers in New South Wales, that is 9.2 per cent lower gas prices from the abolition of the carbon tax. We will see electricity savings in Tasmania, in Queensland and here in the ACT of 11.6 per cent. There is an obligation on the package of bills that have passed this place to see electricity, natural gas and synthetic greenhouse gas suppliers pass on those savings from the abolition of the carbon tax. The ACCC will enforce those reasonably expected price reductions. Customers will get an estimate of those savings from network electricity and gas retailers. We also have transparency in seeing a validation of those methodologies to calculate those savings. So not only have we argued the case; we have made and actioned our commitment to abolish the carbon tax and armed the ACCC. We are adamant those benefits will flow through to families, business and the Australian economy.

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