Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

I thank Senator Williams for that question and for his ongoing commitment to families, a stronger economy and job creation across Australia. The Labor-Green carbon tax is an $8 billion a year tax on electricity. In fact, the carbon tax was deliberately designed to push up the cost of electricity, and by pushing up the cost of electricity what it does is push up the cost of living for families and for pensioners and it pushes up the cost of doing business. Pushing up the cost of doing business reduces our international competitiveness, puts investment at risk and of course puts jobs at risk. The carbon tax makes it harder for Australian businesses, either Australian import-competing businesses or Australian exporting businesses, to compete with those businesses overseas which do not face the same electricity tax. In fact, the Labor-Green carbon tax helps overseas emitters, helps businesses overseas that are emitting more for the same amount of production output to take market share away from businesses in Australia which are putting out fewer emissions for the same amount of production.

Scrapping the carbon tax will bring down the cost of electricity. Scrapping the carbon tax will bring down the cost of living for families and for pensioners. In fact, scrapping Labor's carbon tax will deliver cost-of-living improvements for the average family across Australia to the tune of about $550 a year. Labor is standing in the way of a $550 a year saving for families— (Time expired)