Senate debates
Wednesday, 25 November 2009
Carbon Pollution Reduction Scheme Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Consequential Amendments) Bill 2009 [No. 2]; Australian Climate Change Regulatory Authority Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Customs) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Excise) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — General) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 [No. 2]; Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Customs Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme Amendment (Household Assistance) Bill 2009 [No. 2]
In Committee
8:36 pm
Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source
The first point I would make is that you are assuming that no action is already being taken, because the Waxman-Markey Bill has not passed yet. In fact, there are already mechanisms in place. For example, there are the renewable energy and fuel efficiency policies of various state governments which are seeking—not as much as I am sure many of us would like—to reduce emissions in the United States.
I again say the assumptions in MYEFO are about the likely carbon price. Obviously, like any budget forecast, they may change. Senator Joyce is an accountant and he knows that budget forecasts may change, and obviously the government would have to ensure the scheme is calibrated when it starts and that the scheme continues to be calibrated against the future projections. That is why we have built in annual reviews, as I said in answer to Senator Milne—in order to ensure that the commitment to compensate and assist Australian families continues to be met.
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