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

The highest effective carbon price is the one that those opposite would impose were they elected, and it would effectively cost $1,300 a year for every household in this country. It would require bureaucracies to dole out money to big polluters and would have little environmental gain, and it would not provide the sort of investment certainty which is required not only across the economy but particularly in the electricity generation sector, where you are looking at investment in long-lived assets. These are the same policy reasons why John Howard agreed to put forward a price on carbon and went to the 2007 election promising to do so.

Senator Abetz interjecting—

I invite you, Senator Abetz, to actually read your policy, because that is not what Malcolm Turnbull got you to say. The reality is that those opposite have no policy credibility. (Time expired)