Senate debates
Wednesday, 16 July 2014
Bills
Clean Energy Legislation (Carbon Tax Repeal) Bill 2014, True-up Shortfall Levy (General) (Carbon Tax Repeal) Bill 2014, True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Bill 2014, Customs Tariff Amendment (Carbon Tax Repeal) Bill 2014, Excise Tariff Amendment (Carbon Tax Repeal) Bill 2014, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014, Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Bill 2014, Ozone Protection and Synthetic Greenhouse Gas (Import Levy) (Transitional Provisions) Bill 2014; In Committee
9:35 am
Christine Milne (Tasmania, Australian Greens) Share this | Hansard source
Yesterday, we got the point in committee where Senator Singh had moved the amendment, which would move our existing emissions trading scheme from a fixed price period to a flexible price period. That will effectively move the scheme from a $25 price down to around $7 to $9, depending on the price in the European Union. That is the effect of that amendment. I note with interest that the Palmer United Party have said that they support an emissions trading scheme. I would be interested to know in the parliament whether the government has any interest in moving to a flexible priced emissions trading scheme or not or whether the government rules out ever accepting an emissions trading scheme of any kind.
The second thing I wanted to ask the government in relation to this while the minister is here is what is the estimate of the revenue that the government expects to forego by abolishing the carbon price. Would he give me an estimate over the forward estimates of exactly what revenue he expects to forego in the forward estimates period, because this is a critical element of the issue of going to flexible pricing or not. Flexible pricing would reduce the amount of money coming into the budget, but it would at least maintain some money, whereas what the government is doing is forgoing the lot. I would like to ask that of the minister.
I would also like to ask him, in relation to the forgone revenue, how much of that revenue will the government lose as a result of restoring the fuel tax credit to cover every cent of excise that mining companies spend on fuel? Specifically, for the forward estimates and what you intend to forego, how much of that is directed to fuel tax credits to the big miners? In relation to financial benefits accruing to the big miners, now that they will not have to pay for fugitive emissions and neither will coal seam gas operations, what is your expectation of the financial benefit that will accrue to mining companies and CSG companies through no longer having to pay for fugitive emissions?
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