Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source

It is unfortunate, and I note that Senator Boswell felt it necessary to write to members of the Business Council of Australia complaining—if that is the right verb—about the position they have taken, including the indicated position of the BCA that their preference was certainty over delay. We do not take the same view as Senator Boswell and those on the other side. We do take the view that constructive engagement is a good thing, and we will continue to do that until we make a final determination on our white paper. But we on this side remember that the Australian people made it clear at the last election that they wanted action on climate change. We on this side recognise what Lord Stern told us and what Professor Garnaut said: that the cost of inaction on climate change will outweigh the cost of responsible action now, and that is the way in which we will be approaching this policy. We will be striking the right balance between the various policy objectives in approaching the design of the Carbon Pollution Reduction Scheme. I have said it before and I will say it again: we will undertake this reform in an economically responsible way. We have made that absolutely clear. We on this side know that the cost of failing to act would be greater than the cost of responsible action now.