Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

What we do know is that what I understand is still Labor Party policy of proposing a 50 per cent unilateral cut in Australia’s greenhouse gas emissions would do almost nothing for global greenhouse gas emissions. Senator Ian Campbell, a very good environment minister, kept making the point that you could shut down the Australian economy today and our emissions would be replaced by China alone within nine months. Get real. The Labor Party has no comprehension of what is involved in this issue and what the cost to the Australian economy could be in pursuing its 50 per cent cut, which would make no difference because China would replace it in nine months. We have been pursuing $2 billion worth of very practical, effective policies to reduce Australia’s greenhouse gas emissions without putting thousands of Australians out of jobs, as Labor’s policies would do.