Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

I am very pleased that at least some in the opposition have read some parts of the Productivity Commission report. If they had read it properly they would know that one of the things the commission says is that putting in place a carbon price is the most efficient way to ensure that an economy reduces its emissions. In fact, it is a report which shows the weakness of the coalition's policy—a policy which is all about taking money from taxpayers, giving it to polluters and hoping that there might be some change in behaviour. That is, as Mr Turnbull has said, a recipe for fiscal irresponsibility. This government has made its approach very clear. It is an approach which we put into this parliament on a number of occasions in the last term. We want to put a price on carbon because that is the most economically sensible way to reduce Australia's emissions and to ensure that we can build the clean economy of the future.

In terms of price impacts, the senator is aware and the government has been upfront about the fact that there are price impacts from charging for something which is currently free. What is currently free is the ability to pollute; and, as long as that is free, companies will continue to do it. The government has made it clear that the revenue that is received through the carbon price being levied on the big polluters will be returned to Australian households and to Australian businesses to ensure that the adjustment can be made to a cleaner energy economy.