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Wednesday, 12 October 2011
Page: 11610

Economy

Ms SMYTH (La Trobe) (14:14): My question is to the Treasurer. Will the Treasurer update the House on how the government is delivering the big economic reforms for the nation's future?

Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:14): I thank the member for La Trobe for that very important question. She is a very enthusiastic supporter of clean energy, as is everybody on this side of the House because we know that a price on carbon will drive that investment particularly in renewable energy—in the wind, in the solar, in the geothermal. Of course, there were those on the other side of the House who once believed in tackling climate change, like the member for Dunkley—

Mr Pyne interjecting—

The SPEAKER: The member for Sturt is warned!

Mr SWAN: or like the member for North Sydney. History will judge those harshest who have changed their mind for rank political opportunism. We on this side of the House are passionate believers in a clean energy future. History will judge those harshly on that side of the House who profess to believe in climate change but have voted against it in this House. What we have seen is empty political opportunism from those opposite because saying no is not a solution to dealing with climate change. What we must do is put in place the significant long-term reforms to drive investment in renewable energy and have the political courage to face up to the future and put in place the long-term reforms that will guarantee our prosperity into the future. Putting a price on carbon pollution is one such long-term reform.

What we have seen from the IMF and many other bodies is that the Australian economy is resilient today because in the past politicians in this House had the courage to face up to the long-term reforms. Politicians particularly in this House had the courage to face up to the challenge of the global financial crisis. We on this side of the House voted for jobs in the face of the global financial crisis; those on that side of the House voted against jobs. What motivates everybody on this side of the House is that our No. 1 priority is to support jobs and to support jobs in a clean energy future; to support the green jobs of the future and to support our workers, particularly in the steel industry, which is opposed as well by those opposite.

As a consequence of our actions we avoided recession in this country. Tens of thousands of people kept their jobs because we on this side of the House had the political courage to vote for what was right, not for what was politically opportunistic at the time. The consequence is our economy today is almost six per cent larger than prior to the global financial crisis and we have one of the lowest rates of unemployment in the developed world. If those people opposite had had their way, tens of thousands of people would have lost their jobs.

We on this side of the House will do what is right for the future of the country. We on this side of the House will support clean energy. We, with others in this House, understand the importance of putting in place long-term policies for the future. And of course, when judgment is ultimately made, those opposite will be judged as wreckers, as being on the wrong side of history.