House debates Questions without Notice
Carbon Pricing
Darren Chester Gippsland, National Party, Shadow Parliamentary Secretary for Roads and Regional Transport
2:52 pm
My question is to the Treasurer. I refer the Treasurer to the report of the Australian Energy Market Commission that warns a carbon dioxide tax will reduce the value of electricity generators' assets and reduce their ability to raise capital. Will the Treasurer guarantee that the carbon dioxide tax will not lead to power disruptions or the forced shutdown of power stations such as those in the Latrobe Valley in my electorate?
Wayne Swan Lilley, Australian Labor Party, Treasurer
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—
Harry Jenkins Speaker
The Treasurer will resume his place. Has the Treasurer concluded?
Sophie Mirabella Indi, Liberal Party, Shadow Minister for Innovation, Industry and Science
What a coward!
Sophie Mirabella Indi, Liberal Party, Shadow Minister for Innovation, Industry and Science
I withdraw.
Darren Chester Gippsland, National Party, Shadow Parliamentary Secretary for Roads and Regional Transport
If it will assist the House, I will withdraw as well.
An honourable member: What did you say?
'Coward'.
Teresa Gambaro Brisbane, Liberal Party, Shadow Parliamentary Secretary for Citizenship and Settlement
Harry Jenkins Speaker
Before giving the call to the member for Brisbane, given that nobody in the previous interchange had the call, whilst people in the chamber heard it and it was unnecessary behaviour, I was willing to leave it at that. The member for Brisbane on a point of order?
Teresa Gambaro Brisbane, Liberal Party, Shadow Parliamentary Secretary for Citizenship and Settlement
Mr Speaker, I wish to withdraw as well. I said the word 'coward'.
Mr Pyne interjecting—
Harry Jenkins Speaker
Order! The member for Sturt should not get actively involved. The member for Brisbane will leave the chamber for one hour under standing order 94(a).
The member for Brisbane then left the chamber.
Mr Truss interjecting—
The Leader of the Nationals is fully aware that that is not the crime. The member for Chisholm has the call.