Senate debates Questions without Notice

Carbon Pricing


Penny Wong

Penny Wong SA, Australian Labor Party, Minister for Finance and Deregulation

2:32 pm

Those of us who are very aware of high electricity prices support things such as increases to family tax benefits, increases to pensions and tax breaks for people earning under $80,000 a year. That is what this side of politics supports. What that side of politics supports is a policy that would add to cost-of-living pressures by increasing the tax that Australian households would have to pay by $1,300 a year.

What I was trying to describe before is this simple proposition that, if you have investment uncertainty, that can lead, on the basis of what the industry itself says, to higher prices. I would remind senators of this quote:

… it—

referring to the uncertainty—

will also impact on their ability to offer fixed price electricity contracts which could put up prices for households.

That is a reference to your policy's effect on uncertainty and investment uncertainty, which manifests as— (Time expired)

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