Richard Colbeck (Tasmania, Liberal Party) Share this | Hansard source

Senator Cadell predicted that we'd get a rolling out of the talking points, and that's exactly what we got. There was a point of discussion about reality, but, unfortunately for the Australian people, reality is the problem.

Labor promised 97 times before the 2022 election that they would reduce energy prices by $275 by 2025. Here we are, in 2025. What have we seen? In the last year alone, power prices have gone up by 23.6 per cent. That's the reality that the Australian people are facing. And guess what? At Christmas, just a few weeks down the track—frighteningly—because Labor, to get themselves through the last election campaign, only put up six months of energy price subsidy, the energy subsidies will be gone, and what will the Australian people be left with? Higher power bills. It was always going to be the case. Once the energy subsidies disappear, the Australian people are left with higher energy prices—over $1,300 a year higher under this Labor government. Subsidies will be gone, and power bills will still be there at a higher level—23.6 per cent in the last 12 months.

When the kids are going back to school, with all the expenses and costs for the kids to start school again, the higher power prices will still be there. When the credit card comes in for Christmas, the higher power prices will still be there. Yet we heard the Labor Party 97 times before the 2022 election say that they would reduce Australians' power bills by $275 by 2025. That's the reality. That's the reality that Australians are facing.

You cannot believe a single word that this government says with respect to energy. You can't believe Mr Bowen. You can't believe the Prime Minister. You can't believe the Treasurer. You can't believe anyone opposite. They'll trot out the talking points. They'll blame everybody else. But it was their promise that they would reduce power prices for Australians by $275 by 2025.

What are we seeing with respect to industry? Industry are starting to walk out the door because energy prices, the foundation of this country's economy, are too high, and it's now too expensive to do business in this country. That's what Tomago is saying. That's what Bell Bay Aluminium in my home state of Tasmania is saying. The minister trotted out earlier this year saying, 'Here's a program so that we can support business and industry in this country to get through, because we want to have a built in Australia—made in Australia—campaign. What are they doing? They're having to subsidise industry to cover the costs of their power bills because their energy policy is too expensive. It's the same thing over and over again. They just don't seem to be able to join the dots. They make a whole series of bad decisions through their governance of the country. They're spending too much money. They're keeping interest rates higher for longer because of the expenditure. The Reserve Bank has said that on a number of occasions. They're energy policy is wrong and driving up costs to business. They had to subsidise the Australian community for 2½ years. That's now coming off. They got through the election. They don't need to worry about you for a while now. But the credit card bill will come in after Christmas, and the kids going back to school will still have all those increased costs. Energy prices are up 23.6 per cent over the last 12 months.

It's no wonder that Ken Henry said:

If you have to provide a permanent or semi-permanent rebate for something, then you're saying that your policy settings are wrong … your energy policy settings are wrong …

That's Ken Henry. He's not necessarily a friend of this side of politics, but that's what he's saying about the government. And the government need to shape up with respect to this matter.