National Emissions Trading Scheme

Ms PRU GOWARD: My question is directed to the Premier. Morgan Stanley made the following statement to the Owen inquiry relating to the absence of an emissions trading scheme:

This policy uncertainty ultimately will come at a higher cost to the community.

Following that statement, what impact will this uncertainty have on the sale price if the sale of the State's electricity infrastructure proceeds before an announcement of the emissions trading scheme?

Mr MORRIS IEMMA: What has been happening since the inquiry? State Treasury, along with treasuries around the country, including the Federal Treasury, has been modelling and devising rules and working out price scenarios. In addition, Professor Garnaut has been doing his work to provide advice to the Commonwealth about a national emissions trading scheme. New South Wales has provided a lot of information about possible rules—the architecture for a national emissions trading scheme. The whole point about the Owen inquiry and advice from people such as Morgan Stanley and Professor Garnaut is that it makes the case more compelling to take action.

The fact that a decision has not been made about the price and rules for a national emissions trading scheme ought not to stand in the way of coming to a landing on what to do. That is the point Opposition members fail to realise in refusing to state what it is that they would do. It does not surprise us because they have looked for every excuse not to state a position. They have looked for every excuse to put it off because it is a hard decision. It is a tough decision but it is an essential decision for the State's future. Opposition members think they can con—

The SPEAKER: Order! I call the member for Barwon to order.

Mr MORRIS IEMMA: Opposition members think that they can get by—

The SPEAKER: Order! I call the member for Barwon to order for the second time.

Mr MORRIS IEMMA: Opposition members think that they can get by by not having a policy, by conning the electorate and by turning up six months before an election and rolling out a series of policies in health, transport, electricity or water. They think that they will get by by putting themselves in a position where they can challenge the Government at the next election. In the meantime they simply put off all the hard decisions, including reducing greenhouse gas emissions and tackling climate change. The fact is that those decisions cannot be put off; they have to be tackled. All that Opposition members can do is point to a grab somewhere from some spokesperson from Morgan Stanley and—

Mr Barry O'Farrell: You quoted the same statement two weeks ago. What a hypocrite!

The SPEAKER: Order!

Mr MORRIS IEMMA: Opposition members refuse to do any hard work to come up with a policy. No-one is saying that this ought not to happen, but people are saying, "State a position; craft a position on this." It does not surprise me that the member for Goulburn asked this question because in her time in this Chamber I can count on one hand the number of questions or policies that she has come up with when it comes to climate change. Is it any wonder that since she was elected she is best remembered in this place for this beauty:

Our policy is that there should have been a policy. If we were in government we would have a policy.