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

The Shorten carbon supertax would be a tax on jobs; it would be a tax on families. It would of course lead to fewer jobs in Australia and more jobs overseas, where our competitors would be able to take market share away from us. But of course families across Australia would have to pay about 78 per cent more for electricity prices. Do not take my word for it; that is actually what Labor's own modelling in government showed.

As the Minerals Council of Australia quite rightly said, 'The 45 per cent target is not based on detailed economic analysis of its impact on growth, living standards and energy costs'—a very, very accurate observation. The Australian Chamber of Commerce and Industry said, 'Labor's newly announced proposal to double cuts to emissions to 45 per cent by 2030 with a long-term target of net zero emissions by 2050 was not backed by a credible plan that protects economic growth.'