Kim Carr (Victoria, Australian Labor Party, Minister for Innovation, Industry, Science and Research) Share this | Hansard source

Thank you, Senator Birmingham. Emissions trading will drive the most significant economic transformation in Australia since the trade liberalisation of the 1980s. As I understand, a policy brief has been released which refers to revenue which will result from emissions trading. The whole government is interested in all contributions to the discussions about emissions trading, but it would be premature to speculate about revenue from emissions trading. This will depend on a range of inputs, including Treasury modelling, advice from the Garnaut review and detailed design decisions following the government’s green paper to be released in July. The government has committed to measures to address the impacts of carbon price on households, particularly low-income households. We have also committed to addressing competitive challenges associated with emissions-intensive, trade-exposed industries and are dealing with other strongly affected industries. The government is taking a very careful approach to designing the emissions trading scheme and will be consulting stakeholders exclusively.