Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Sterle for the excellent delivery of that question. This government is focused on making sure that this generation and, importantly, future generations benefit from the opportunities that come with the global energy transition and the economic transition that are currently underway. We know, from information given to us—and this would have normally been enough to convince the old Liberal Party, or the traditional Liberal Party, to stick with an energy policy or, at least, not abandon net zero—that the economy would be projected to be $2 trillion smaller by 2050, GDP per capita would be $4½ thousand lower by 2050 and wholesale electricity prices, if you are worried about prices, would be about 50 per cent higher by 2050. That is the reality of what you are about to do when you abandon net zero.