30-October-2008
Portfolio Media Releases, Emissions Trading Scheme
The Rudd Government must defer the finalisation of its White Paper on emissions trading given today’s release of economic modelling which is badly flawed, taking no account of the impact of the global financial meltdown on local industry and jobs.
“I suspect the Government is hiding the truth - withholding the real impact of the biggest financial meltdown since the great depression, to help them blunt growing apprehension about their rush to impose their emissions trading scheme,” said the Hon. Andrew Robb AO MP, Shadow Minister for Emission Trading Design
“The Rudd Government must defer its White Paper until the modelling reflects real life and until the more than 2,000 contributors to the Green Paper then have an opportunity to assess the impact on their business and employees, and update their submissions.
“Wayne Swan and Kevin Rudd have said ad nauseam the ‘world changed three weeks ago’ and yet they are completely ignoring the effect of this financial crisis. It beggars belief.
“Despite what Mr Swan and his boffins may say, industry is telling me that if Australia rushes headlong into its own scheme, getting well ahead of the rest of the world, then many, many jobs will be lost and major industries and projects will be under threat.
“Without doubt, climate change is best tackled from a position of economic strength, requiring commonsense and judgement.
“Yet, the Government’s approach has all the hallmarks of the rushed and bungled decision to provide an unlimited guarantee on all bank deposits. Industry is being badly spooked.
“The Coalition will study closely the economic modelling released today. Already it appears that the modelling assumes that the rest of the world are all on board as part of a global agreement. Of course this is far from the case. It would be a hugely heroic and dangerous assumption.
“An effective emissions trading scheme must be designed to protect our export and import competing industries until the rest of the world has signed up to a course of action. Any effective modelling must capture this reality.
“In the meantime the Government should address the fears of industry, and hold back the White Paper until these major issues are resolved.”
Media Contact: Stuart Eaton, 0433 298 620