Senate debates

Monday, 11 November 2019

Bills

Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019; Second Reading

9:40 pm

Photo of Tim AyresTim Ayres (NSW, Australian Labor Party) Share this | Hansard source

Talking logic—that's right, Senator Rennick. They're applying their own logic, sitting there in their basements. They've got the avatars on their accounts. They look like Brad Pitt but really they look like Senator Rennick. That's what this lot are doing. That's what's driving their thinking.

The Labor Party will support this legislation, when it's been amended, but we don't believe it will have the slightest impact on energy and prices. What the country really needs is a comprehensive energy policy. It's like the old Hippocratic oath—do least harm in this place. The failure to have a proper energy policy will very likely drive down investment in the energy sector and continue to drive up electricity prices. The bill claims to address market misconduct, when there is very little evidence to support the scale of intervention set out in this bill.

Finally, the policy development process for the bill has been rushed. It's a sign that the bill is more about politics than good policy—another signature of this government. When the Liberal government came to power in 2013, they dismantled four major climate change programs and began drafting legislation to repeal the Clean Energy Act 2011. They've introduced a whole series of legislation—the only country in the civilised world to actually go backwards on climate change and energy policy.

Senator Rennick interjecting—

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