John Williams (NSW, National Party) Share this | Link to this | Hansard source

My question is to the Minister representing the Minister for the Environment, Senator Cormann. Will the minister inform the Senate how the carbon tax negatively impacts on jobs, families and the economy?

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

I thank Senator Williams for that question and for his ongoing commitment to families, a stronger economy and job creation across Australia. The Labor-Green carbon tax is an $8 billion a year tax on electricity. In fact, the carbon tax was deliberately designed to push up the cost of electricity, and by pushing up the cost of electricity what it does is push up the cost of living for families and for pensioners and it pushes up the cost of doing business. Pushing up the cost of doing business reduces our international competitiveness, puts investment at risk and of course puts jobs at risk. The carbon tax makes it harder for Australian businesses, either Australian import-competing businesses or Australian exporting businesses, to compete with those businesses overseas which do not face the same electricity tax. In fact, the Labor-Green carbon tax helps overseas emitters, helps businesses overseas that are emitting more for the same amount of production output to take market share away from businesses in Australia which are putting out fewer emissions for the same amount of production.

Scrapping the carbon tax will bring down the cost of electricity. Scrapping the carbon tax will bring down the cost of living for families and for pensioners. In fact, scrapping Labor's carbon tax will deliver cost-of-living improvements for the average family across Australia to the tune of about $550 a year. Labor is standing in the way of a $550 a year saving for families— (Time expired)

John Williams (NSW, National Party) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Can the minister advise the Senate what impact the carbon tax is having on investment decisions and therefore jobs?

Opposition Senators:

Opposition senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

When there is silence, Senator Cormann, you will get the call. You are entitled to be heard in silence.

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

Thank you, Mr President. In answer to Senator Williams's question, the carbon tax is putting investment and jobs at risk.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Why have the Nationals done the Treasurer over?

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

Just to give you a practical example of that, I refer senators to some comments published last week in the Australian Financial Review by Mr John Hannagan, the Chairman of Rusal Australia.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Is that the one where Hockey said he wouldn't be bullied?

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

Rusal is the world's largest aluminium company.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Is that the one where Hockey said he wouldn't be bullied?

John Hogg (President) Share this | Link to this | Hansard source

Order, Senator Cameron!

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

This is what Mr Hannagan said: 'Rusal Australia will not invest another cent in capital projects until Labor supports the coalition in axing the carbon tax.' In fact they told the previous government:

… its investment in the Queensland Alumina refinery at Gladstone was being put at risk by the government's unilateral carbon tax and energy policy.

They also pointed out that no other competitor of theirs in other parts of the world faces the same costs. In fact, Queensland aluminium— (Time expired)

John Williams (NSW, National Party) Share this | Link to this | Hansard source

Mr President, I ask a further supplementary question. Can the minister advise the Senate what would be the impact on Australian jobs, families and the economy of moving to a floating price emissions trading scheme?

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

I thank Senator Williams for the question. The truth is, whether it is a fixed price carbon tax or a floating price carbon tax or a floating price emissions trading scheme—whatever name Labor wants to give it—it will continue to push up and push up and push up the cost of electricity. If you look at the former government's own modelling, it thought it would push up the cost of electricity to the tune of—$38 a tonne of carbon was going to be the price by 2020.

They never tell people this, that they expect the price on carbon, whether it is fixed or floating, to continue to go up and up and up and to continue to increase the burden on families, to continue to increase the burden on seniors, to continue to put pressure on business, to continue to put jobs at risk. Labor should do what they said they would do before the election—that is, vote to terminate the carbon tax. Kevin Rudd and Labor said they had already done it. (Time expired)

John Hogg (President) Share this | Link to this | Hansard source

Senator Cormann, raising that literature is disorderly.