Topics: 2035 emissions targets, Labor’s sneaky carbon taxes.

E&OE

 

TRUDY MCINTOSH:

 

Mr Taylor, thanks for your time. It seemed like a pretty quick decision, a snap meeting of the Shadow Cabinet, immediately the Leader announcing you'll be opposing this. Why does the Coalition oppose that Labor's 2035 target?

 

ANGUS TAYLOR:

 

Well, Trudy, because they're completely unachievable without a massive intervention. And to put this into perspective, we saw significant emission reductions in the time I was – the four years or so I was minister – about 10%. They have barely moved. Emissions have barely moved in the three and a half years or so since then, and all of a sudden, Labor is claiming they're going to get to 43%. They're currently at 28%, down to 43% below 2005 levels by 2030, and then miraculously, 62 to 70% by 2035.

 

TRUDY MCINTOSH:

 

Projection though, Angus. That from the department, the projection for that 2030 target is at 42.7%. They say that's close, basically, to getting there. Do you think that's not right?

 

ANGUS TAYLOR:

 

Well, the department was completely wrong in saying that emissions were going to fall over the last three and a half years, and they haven't. They simply haven't. They're still at around 28% and they haven't moved in any material way since when we were in government. And all of a sudden, they're miraculously going to go to 43 and then miraculously to 62 to 70.

 

But Trudy, can I say that Labor has given away in this massive documentation, a strong hint as to what they really intend to do here. It is clear that they do intend a massive intervention. They've laid out deep in an appendix, the sort of carbon tax that will need to be imposed to achieve these targets getting up into many hundreds of dollars, over 10 times Julie Gillard’s carbon tax. Clearly that will be laid out in the various mechanisms they're putting in place: Vehicle Emission Standards, so raising the cost of a car, in the in the Safeguard Mechanism, raising the cost of food and building materials, in the Capacity Investment Scheme, and so on.

 

So, they're clearly revving up here for a very, very big intervention in our economy, and that's simply unacceptable to Australians. We don't want to see policies from the government that hurt our economy, that hurt our standard of living, that raise the price of food, that raise the price of building materials and raise the cost of transport as well.

 

TRUDY MCINTOSH:

 

But in the practicalities of the Parliament we are in, Chris Bowen, the minister has previously indicated that they may not even legislate this target because of the nature of the Senate. Do you concede there's almost nothing the Coalition can do to block this being the 2035 target?

 

ANGUS TAYLOR:

 

Well, they've already legislated the mechanisms. They're sneaky carbon taxes. The vehicle emission standard, the capacity investment scheme, of course, in the electricity sector, the safeguard mechanism across industry, which affects building materials and food. They've already, they've already legislated these things, so they intend to ramp it up, and that's clear in the report, that that's what they're doing. They're doing reviews now to do exactly that. They've laid out the scale of the intervention they've got to make. And this is completely unacceptable to Australians, to hurt our economy in ways that are absolutely not going to be welcomed. Particularly at a time like this, when the economy has been really struggling, Trudy. This is this is not the right thing for Australia at this time.

 

TRUDY MCINTOSH:

 

I wanted to ask about one of the big shifts we've seen from how Labor approached this, the 2030 to the 2035 target. Last time we saw that $275 promise on power prices, it never came true. This time, no commitment from the PM on that front. But I'm sure you saw it buried in the Climate Change Authority advice, though, there was modelling about the price impact of it.

 

The Climate Change Authority says that the projection is residential power prices will fall by 13% and average households costs will fall around 20% or $1,000 a year over the decade. Do you buy that? Do you believe that will come true?

 

ANGUS TAYLOR:

 

Absolute nonsense. Absolute nonsense. Trudy, it hasn't been true. Over the last three years, we've seen electricity prices go up and emissions haven't fallen, and when you're imposing a sneaky carbon tax of up to $300 a tonne, and that's in the report. That's in the report, the idea that electricity prices and the costs of other essential goods for Australians is going to go down is just utter nonsense.

 

Labor should be upfront, by the way, in taking those numbers that they've got on their sneaky carbon tax, that's in the report, and telling us what that really is going to do to electricity, what that's really going to do to the cost of food, what that's really going to do to our industry in this country, what that's really going to do to the cost of cars and the cost of transport across Australia, they haven't been upfront about. That they need to be, because it's very clear what they're proposing to do is impose big imposts on our economy.

 

TRUDY MCINTOSH:

 

I notice you've used the word sneaky carbon tax a few times here. I don't think Susan Ley or Ted O'Brien used that kind of argument today. Is everyone comfortable inside the Coalition in terms of reviving that carbon tax campaign?

 

ANGUS TAYLOR:

 

Well, I'm just talking about what's in the report, Trudy. There it is, Table C.2 buried in an appendix. That's what it says. That's what it says. So, I'm just reading from the report. It's clear that Labor is wanting to impose a major hit to our economy, which will weaken our economy, which will hurt our standard of living, which will raise the cost of living for Australians, which will raise the cost of doing business for businesses, small and large. And that's completely unacceptable, and that's why we're rejecting this target. And I am in complete agreement with Ted and Susan about that.

 

TRUDY MCINTOSH:

 

Well, on 2050, net zero, one of your Shadow Cabinet colleagues, Andrew Hastie, says he'll quit the front bench if net zero is the target in the wake of this review, will you?

 

ANGUS TAYLOR:

 

Well, I'm very clear about this, and I have been for many years, that we shouldn't be imposing unnecessary taxes and imposts on Australians, raising the price of food, transport…

 

TRUDY MCINTOSH:

 

Is net zero an unnecessary impost?

 

ANGUS TAYLOR:

 

Well, well, you know what? I have no problem with bringing down emissions by ensuring that we've got clean energy technologies that are competitive with their alternatives, and so that Australians don't have imposts on them. I've never had a problem with that. What I have a problem with is hitting Australians with taxes that are completely unnecessary and will hurt the economy. Will hurt their disposable incomes, will hurt their cost of living, and will make us a weaker nation.

 

TRUDY MCINTOSH:

 

For clarity, though, Angus, if the position comes out at supporting net zero, a 2050 target, will you quit the front bench like Andrew Hastie, or there's a way, a middle ground?

 

ANGUS TAYLOR:

 

Good try, Trudy. But look, the truth is, I am dead against targets that are going to hurt Australians and hurt the Australian economy. And I always have been, and that's long been my position, and it will continue to be my position. Well, I'm going to await the outcome of the review, and we need to. I mean, we've got to go through this. But I think the Liberal Party has never stood for taxes on the Australian economy that are going to kind of make us poorer, make us weaker, and hurt our prospects well into the future.

 

TRUDY MCINTOSH:

 

A final one, Angus, do you still have ambitions to be leader?

 

ANGUS TAYLOR:

 

I have ambitions to be the Defence Minister of this great nation, and right now, with the Chinese Communist Party and authoritarian regimes across the world flexing their muscles, we need strength in our defence.

 

TRUDY MCINTOSH:

 

Angus Taylor, thanks so much for your time.

 

ANGUS TAYLOR

 

Good to be with you.

 

 

ENDS.