Michael Ferguson (Bass, Liberal Party) Share this | Link to this | Hansard source

The current debate on Australia’s energy needs is an opportunity for a meaningful discussion, including considering the viability of subsidies and what they can mean to everyday power customers. The fact is, subsidising renewable energy means that the costs of the subsidy get passed on to power users. While the future certainly does lie in reducing emissions wherever possible, as well as non-greenhouse options like renewable energy and nuclear energy, we as a nation need to plan carefully and not rush into uneconomic solutions. Labor’s recent proposal would see home electricity prices soar in Tasmania. If such an emissions trading tax were introduced then Tasmanians could expect to pay up to $160 more on their power bills. The emissions trading scheme proposal effectively taxes traditional power sources. The cost of the tax would then immediately be passed on to consumers. Interestingly, the Queensland and Western Australian premiers have already rejected this idea for these reasons.

Labor says that it wants to reduce Australia’s greenhouse gas emissions by 60 per cent by 2050, but because Australia only produces 1.46 per cent of the world’s greenhouse gas emissions this plan will just force Australian jobs offshore by making our lifestyle and our cost of business more expensive.