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

I thank Senator Leyonhjelm for that question and for his generous remarks on the weekend. Firstly, the government has not abandoned talks on reform of the Renewable Energy Target; it is Labor which has walked away, clearly still intent on pushing up the cost of electricity for families and businesses across Australia into the future.

As to the question whether the government recognises the target in its current form is not achievable, well, that is certainly the advice that we are receiving from the many experts in the renewable energy sector. The government remains firmly committed to reform of the Renewable Energy Target because that is important for our efforts to strengthen the economy and for jobs. The government wants Australia to be the affordable energy capital of the world, as the Prime Minister has previously indicated. That is because we want to keep building a stronger, more prosperous economy where everyone can get ahead based on improving our international competitiveness and by reducing the cost of doing business in Australia. That is, of course, why we got rid of Labor's carbon tax. That is why, while we support renewable energy, we want to improve the operation of the Renewable Energy Target moving forward.

Australian households have already installed more than two million solar systems with the help of the renewable energy target, and the cost of solar PV installation is less than a quarter of the price it used to be. But Labor, by walking away from talks with the government about reform to the Renewable Energy Target, is putting the jobs at risk across all our energy-intensive and trade-exposed sectors—in particular, across our manufacturing sector.

Labor seems intent to again punish Australian families and Australian businesses with higher energy costs. That is not our approach. The government's proposal of full reform is centred around four key elements: the RET should present a real 20 per cent of the amount; support for household solar systems should not be changed— (Time expired)