Penny Wong (SA, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

Senator Hanson, with respect, it's not simply me saying this; this is what global markets are saying. This is what developed economies around the world are saying. If you go to Europe and you understand what is occurring in Europe and what is occurring in global markets, it is affecting Australia's energy costs, as costs are being affected around the world.

Senator Rennick—a bit of economic irrationality over there, fair enough! The reality is the market is not where you are. Senator Hanson, we deeply appreciate how difficult the increase in energy costs is for Australian households.

Sorry; I don't know how to respond to the interjection from Senator Rennick! We understand how difficult it is. The government is very seized of this. I would make the point to you that a rational position that was in place over so many years under those opposite meant that we saw supply exit the system, and we know if supply exits the system what happens to price. (Time expired)