Matthew Canavan (Queensland, Liberal National Party) Share this | Link to this | Hansard source

I must give it to the newly elected Labor government: they are already smashing records. Yesterday they broke a major election promise in just their first day at work here in parliament. That must be some kind of record!

At the election, the Labor Party promised—I'm quoting from their own policy—to 'cut power bills for families and businesses by $275 a year for homes by 2025 compared to today.' Yesterday, in the Governor-General's address, there was not a mention of the $275 saving at all; instead, there was just a vague commitment to 'help save families hundreds of dollars on their electricity bills'. Where has the $275 gone now? Australians are asking the newly elected Labor government: 'Where is our $275 that you promised?'

This is a massive broken promise that will hurt Australian families already struggling with crushing increases in the cost of living. Since the election, wholesale power prices have increased by more than four times. Soon, every time you go and get a snack from the fridge, you'll be shocked by how big that bill stuck to the fridge with a magnet is. Electricity bills are going up because we have invested too much in unreliable renewable energy. Australia leads the world in investment in renewable energy. Just the other week, our energy regulator, the Australian Energy Market Operator, revealed that Australia has built four to five times more solar and wind energy per person than Europe, the US, Japan or China. The Labor Party's response is: 'Let's do more! Let's ignore the higher consequences of this record of shame.' They want to increase our renewable energy from just 25 per cent today to 82 per cent in just eight years time. How is that going to work when the sun sets? We're in a world where the renewable energy investments must continue until morale improves.

We are a country blessed with energy resources—with coal, gas and uranium. It is a national disgrace and embarrassment that we export our resources to other nations while our old go cold in winter. It is time to put Australians first.