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Tuesday, 8 November 2011
Page: 8469

Senator LUNDY (Australian Capital TerritoryParliamentary Secretary to the Prime Minister and Parliamentary Secretary for Immigration and Multicultural Affairs) (10:09): Thank you for that question. As I think has been stated on numerous occasions, the Climate Change Authority will have the capacity to look at what is happening in the various markets from time to time. So that would be the appropriate place, were any such observations made and the case for a review built. I am happy to give you a little more information, given that you raised farm costs. released a report in June 2011 that found electricity accounts were about 2.3 per cent of total dairy farm cash costs. Treasury modelling indicates that a 10 per cent increase in electricity would represent an increase of around 0.2 per cent in total farm cash costs. That is not dissimilar to other industries that are not eligible for jobs and competitiveness assistance. However, estimates of the impact of the carbon price on dairy farms include increases in fertiliser costs, but fertilisers such as urea are trade exposed and will be assisted under the Jobs and Competitiveness Program. So there is an opportunity there.