Ted O'Brien
Fairfax · Liberal Party · Australia
“My question goes to the Prime Minister. Over recent weeks, shots have been fired at an Australian Border Force vessel from an illegal boat. We've seen the biggest seizure of cocaine in Australia's history, with police believing the drugs were imported by sea.”
“Too many businesses on the Sunshine Coast are closing. A local business is far more than just a business; it is the sponsor of local footy clubs. They're the ones who pay the salaries to local employees. They're the ones who do the hard work. Behind all the shopfronts we might see across the Sunshine Coast lies a personal story.”
“This is what is happening to local communities right across this country, and this government is showing absolute disregard for small business. It's why, on 8 July, I will host an 'Understanding the Budget' forum, so local businesses on the Sunshine Coast in my area of Fairfax can understand what the Labor Party is doing to them.”
“Australia is drifting. That is the conclusion from the Committee for the Economic Development of Australia's 2026 State of the nation report. Productivity, investment and innovation are going backwards. Knowledge, skills and workforce are going backwards.”
“They lie awake at night not knowing if they can make payroll. They do not know if their employees will have enough money to put food on the table for their own families. This is symptomatic of a decline of our national economy, felt on the ground at home in my communities.”
“You do not make an economy more competitive by taking away opportunities for entrepreneurs. You do not make an economy more competitive by treating profit making as a sin. If this government was so sure about increasing taxes, it should have had the courage to take it to the Australian people at last year's election. (Time expired)”
The complete record
Every one of 271 lines we hold for Ted O'Brien, in date order, each linked to its source. Free to read, in full, without an account. Page 4 of 6.
“The only reason they actually were doing this for this term of government anyway is the fact that the coalition had shamed them into it. At the end of the last term of government, the coalition came out with a far stronger instant asset write-off policy to what's before the House today. This shamed the Albanese government, because they'd totally forgotten, as they always do, about small business. But it shamed them, on the eve of the election, to come forward with their own instant asset write-off. While it is nowhere near as good as what the coalition had put up, of course, it is a demonstration of coalition competence and the lazy Labor approach, and we support the instant asset write-offs, as you would expect from a coalition of Liberals and Nationals who understand the importance of small business and the importance of the economy.”
“Again, it goes to the competence of the former coalition government. The Liberals and the Nationals are the only side of politics who actually care about small business and recognise the importance of cash flow and the importance of encouraging the bringing forward of investment, because that will enable businesses to grow. But they can't do that too easily, which is why the instant asset write-offs were created in the first place by the coalition. And now we have the Labor government stealing the policy—which we're very happy about, by the way. That's fine. The more the Labor government steals coalition policy, the better it is for the Australian people. Again, it goes to coalition competence versus Labor laziness. But we do say we like instant asset write-offs.”
“The now housing minister, another frontbencher, said: It is a silly grab bag of things that don't amount to a cohesive policy … And the now assistant minister for immigration said of the measure that they want to put through today it 'would have to be the worst, shallowest, most ill-conceived piece of legislation that I have seen in the parliament in my time as a member'. Yet here they are today. This goes to the fact that the coalition was competent, because everything the government is doing is seeing prices go up for energy. There's one measure in their kitbag that the coalition had introduced which is driving the pressure downwards, and that's the one they bring forward, trying to hide it amidst all these other measures within the omnibus. If I can go to another measure, it's schedule 7. This one is the instant asset write-off.”
“The now climate change and energy minister—the very minister who wants to extend this measure—said of this measure, 'The Liberals' silly big-stick divestment policy will drive up electricity prices even further.' And now the minister of the day says, 'Actually the coalition had it right after all.' I remind you that this is the now Labor climate change and energy minister who was saying, about the very measure that today he wants this House to pass, 'this ridiculous policy'—the very one he has in front of the House now—'this Venezuelan-style intervention, this intervention in the economy which would chill investment'. This is what he said. The now health minister, another frontbencher, said of this very measure: This is a stunt by a government that has no energy plan.”
“The Labor opposition at the time were very excited about the big stick legislation, I have to say. They were determined to tell the Australian people that the big stick legislation was bad. I'll let you in on a bit of history here.”
“It goes to coalition competence, but the Labor government has defied the coalition's practice, and they have seen prices go through the roof. Indeed, only recently, we saw the 2035 emissions reduction targets come out from this government, but they cannot tell the Australian people how much it's going to cost. They don't know how they're going to get there or how much it will cost. What we do know from the market operator and every other energy market expert in the country is that prices are going to continue to rise. This government has no answers—it has no solutions whatsoever—which is why, in this omnibus bill, as a demonstration of coalition competence and Labor laziness, they have decided, in schedule 6, to extend that legislation. That legislation was famously known in this chamber as the 'big stick legislation'.”
“Over the Albanese government's first term, they got prices up for gas by 38 per cent and up for electricity by 39 per cent. It is no wonder, therefore, that within this omnibus bill you have a schedule which basically extends a coalition measure that ensured that any savings made by energy retailers would be passed through to consumers—a measure that ensured that energy generators would not be able to adversely bid into the system, as in play the system to the adverse impact of consumers, and that ensured that they would have to be signing up to financial contracts. This was all set up by the coalition government to ensure it was putting downward pressure on electricity prices. It was one of the many schemes that helped the coalition deliver.”
“This is all about the energy market, and we know why this government has chosen to extend a coalition measure—because, under the last term of the coalition government, we saw energy prices come down. They came down by about eight per cent for households, 10 per cent for businesses and 12 per cent for industry. We had a proven track record of getting energy prices down. That's what a coalition does. Then in came the Albanese Labor government. The reason I'm trying hard not to laugh is that they promised the Australian people a $275 reduction in household power bills—$275 down was their promise. In fact, power bills have gone up by $1,300. Well, if you look at the coalition's record in its last term—on average, let's say we got prices down by 10 per cent.”
“Comprising seven schedules and impacting at least eight portfolios, it's not often that this parliament sees such a large bill that simultaneously demonstrates the coalition's competence and Labor's laziness. But that's what we have in this omnibus bill before the House today. I take the opportunity to look at a few of the schedules. If you look at two in particular, they are very close to copy and paste. One is a complete copy and paste and an extension of a former coalition measure and the other one is almost a copy and paste. It builds on a coalition measure. The first is an extension of the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019.”
“I'm happy to rise in the House today to talk about the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025. I move the amendment circulated in my name: That all words after "That" be omitted with a view to substituting the following words: "whilst not declining to give the bill a second reading, the House notes that: (1) the bill seeks to extend two successful Coalition policies; (2) the Government's policies have seen energy prices increase by $1,300 more than promised and it is now extending Coalition policy to ensure energy prices don't increase even further; (3) the Government has only reluctantly decided to support business by extending the instant asset write-off under pressure from the Coalition ahead of the last election; (4) this bill seeks to provide less frequent assessments of ASIC and APRA; (5) thousands of Australians have lost over $1 billion in superannuation due to alleged misconduct by First Guardian and Shield; (6) ASIC has been accused of major failures in responding to this crisis which the Government has been silent about; (7) the Government must explain to the thousands of victims why it is seeking to reduce accountability and transparency for ASIC at this time; and (8) this bill seeks to clean up a range of the Government's mistakes including the application of GST to disability services".”
“It's a reminder to me of the importance of the job we do in this place to protect that which is precious about Australia, to seek to change that which can be improved and, more than anything else, to set Australia up for future generations so that they can enjoy the same prosperity and freedoms which we have enjoyed over our own lifetimes. I want to say thank you to the schools across Fairfax and the students who participated. It is your contributions which inspire me to continue to work in this place for you and your families.”
“The decisions we make in this place will determine Australia for the future. Indeed, the bigger decisions will determine Australia for generations to come. This is why it's so vitally important that we listen to younger Australians. It is important for us to understand what they think is great about Australia today and that which needs to change and to hear what they envisage for Australia's future. That is why recently I was so excited to facilitate a workshop with 50 young 17-year-olds from across my electorate from all different schools to hear what it is they envisage for Australia's future.”
“More money is spent. The starting point to fixing the budget is to introduce fiscal rules. If it's good enough for every single government since Hawke, why is it not good enough for this government, especially given that spending is out of control, that they're not growing the economy, that Australians are feeling so poor and that the economy is becoming so weak? With that, I conclude my remarks on the appropriation bills.”
“If you're going to just keep on spending, you've got to put more on the next generation in terms of debt—which, yes, they're doing—or they've got to come after people's tax, and that's precisely what they plan to do. I'll finish with this: there's one simple thing this government could do it if it wanted to fix the fiscal mess that it has created. The first thing it could do, if it wanted to start fixing the budget, is to introduce some fiscal rules. Every single government since the Hawke government, except the Albanese government, has had rules that the Treasurer has had to abide by, rules that would basically contain spending. This prime minister has allowed this treasurer to have free rein. As cabinet ministers and backbenchers rock up with their hands out, wanting more from the Treasurer, there are no rules—off it goes!”
“We have asked in this chamber many a time of the Treasurer or the Prime Minister whether or not they would rule out extending the taxation of unrealised capital gains into other areas. They will not rule that out. Whether that be family trust or the family home, who knows? This government has been asked many a time in this chamber over recent weeks as to whether or not it would rule out a series of taxes. It will not rule out any further taxes, and we know why it needs more taxes—because (1) it will not stop its spending spree and (2) it has proven to be incapable of growing the economic pie, which means it's either debt or taxes. They're the only things.”
“Here we have a government where economic growth is less than half of the long-run average. When the economy actually shrinks for the Australian household, you know there's a problem. So what do they do? If it's not debt, there's one other thing they're doing: taxes. We are still in the early days of the second term of the Albanese government. The only tangible economic measure this government brought into this term is to saddle Australians with higher taxes, and that is through its superannuation tax. It's super big and super bad, and it will be hitting the Australian people. Worst of all, it crosses a red line in tax law by introducing the taxation of unrealised capital gains—in other words, theoretical profits. This government wants to tax Australians on profits they haven't even made. This is the state of affairs we are dealing with.”
“Every time this government puts more debt on the national credit card, it's putting debt on the next generation of Australians, because it's them, the next generation, who will have to pay off Labor's debt. This government knows it, but it continues to saddle the next generation with more and more debt. Why? Because it cannot stop its spending spree. The second imperative is to start growing the economic pie. The problem here again—it's all in the evidence of the last three years, and we've seen it at the household level. We've seen this economy actually shrink in size. We have seen productivity go backwards—it's been in decline—by over five per cent over the last three years. This is a government which is sending the economy backwards. Just recently, the RBA downgraded their forecast for both productivity and economic growth.”
“We have seen in this year's budget the plan for this government to spend $160 billion more than only a bit over three years ago, in the last coalition budget. They just keep on spending. And this government cannot claim that the spending spree is due to pressures on the budget that are coming from the NDIS, aged care, pensions et cetera alone. No, this is a government that has made deliberate decisions on budget measures from which, quite candidly, this economy has not been able to produce the revenues. So what does this government do? It goes to debt and it goes to tax. When it comes to debt, we have seen debt go up enormously. This government has added around $100 billion to the national credit card over the last three years. We have debt quickly racing to $1 trillion. It'll hit around $1.2 trillion by the time of the next election.”
“That's Australia. That's the Australia of 2025 under this government. It is why you also see our major manufacturers closing their doors. Look at smelters right across the country; the only thing that's keeping them working at the moment is the fact that governments come in and basically subsidise their operations. Such is the pain being felt by not just the Australian people but businesses operating in the Australian economy. There are two imperatives that this government should be mindful of: (1) it needs to stop its spending spree and (2) it needs to start growing the economic pie. On the first, when it comes to stopping the spending spree, outside of recession we have not seen this level of government spending since 1986—an extraordinary amount of spending. We have seen spending as a percentage of GDP go from 24 to 27 per cent.”
“Electricity and gas have gone up by well over 38 or 39 per cent. These are enormous increases in everyday costs for the everyday Australian, and that's just the start. We know that it's not just the Australian people feeling poorer but the economy itself being weaker. We see that through the insolvency figures, because, under this government, this is the biggest drop in solvent businesses that we've had in our history—that is, more companies than ever before have become insolvent. We know that, and, in every town in Australia you walk through, you can see the shops which have closed. You can talk to the cafe and restaurant owners; they've been doing it tough—the small businesses. Any business which is reliant on energy in particular is suffering because they're dealing with the highest electricity prices in the world today.”
“We are talking about families who are not just cancelling holidays but are telling their children they can't buy that new pair of shoes. Some children are having to move school because their parents can't afford the school they were going to. We are seeing hard decisions being made by families about how to live their lives. We are seeing senior citizens make hard decisions such as do they eat at night or do they heat their homes. These are the day-to-day consequences of very poor economic management, where you do see the Australian people suffering, and enormously so. We know that the Australian people have been experiencing a per capita recession. That continues to be the case. We have the cost of living only getting worse. We've seen the price of rent and housing go up by around 20 per cent. Insurance is up by well over 20 per cent.”
“In fact, we are strongly of the view, based on the evidence already in after three years of the Albanese government, that they are doing a very poor job of managing the economy. As a consequence of their poor economic management, we are seeing Australians becoming poorer and the economy becoming weaker. We know Australians are poorer because they are experiencing the largest drop in living standards among the developed world. The largest single drop is here in Australia, and the Australian people are feeling it. They're feeling it right across the country, no matter what it is people are doing in their daily lives. When one's living standards fall so much, families in particular have hard decisions to make.”
“I rise to speak on the Appropriation Bill (No. 1) 2025-2026, the Appropriation Bill (No. 2) 2025-2026 and the Appropriation (Parliamentary Departments) Bill (No. 1) 2025-2026. These bills draw on the Consolidated Revenue Fund to finance continued operation of government and to give effect to decisions taken since the budget. Together, they appropriate $98.2 billion from consolidated revenue for the 2025-26 year. To be very clear, the opposition will not oppose these bills. Our support ensures the continuity of essential government services and funding for ongoing activities. However, that support does not mean that the coalition, the opposition, endorses the government's management of the Australian economy or its economic program.”
“I looked at the Treasurer's own budget figures, and you wouldn't believe what it tells us. This financial year the upward revision for revenue is $7 billion. Guess how much of the $7 billion the Treasurer is planning on banking? None. He's going to spend $7.2 billion of the $7 billion. The very week he fabricates a rule, he breaks it. This is the problem we have, you see. We have a government that cannot control spending. That is why they call him King Taxalot. King Taxalot and the knights of the round table, creating ideas so they can take those ideas to be considered by the nitwits of the cabinet table.”
“If every Prime Minister since Hawke has been able to apply some discipline to the Treasurer, will this prime minister do it? No. They don't want rules. They are addicted to spending. Who wants rules when you just want to spend? That's what the candyman wants to do. He's a big spender, so there are no rules. I'm not the only one calling for rules, by the way. Ken Henry, Philip Lowe, the chief economist at KPMG and the chief economist at AMP are all calling for rules. And, under pressure, the Treasurer came out and said he's now got a rule. The rule is he is going to bank most of the upward revisions to revenue. In other words, when revenue comes in that's unexpected, he's going to bank most of it. So he's only going to spend up to half of it. I thought I'd check this out.”
“The Treasurer didn't like that. It smashed his glass jaw. You could feel his ego going everywhere, slashing anything in its wake; so upset was he about his spending spree. But it has to stop. The recommendation that I made on behalf of the coalition at the roundtable was that the government adopt some fiscal rules, some discipline, to contain the Treasurer's spending. Do you think the Treasurer accepted the idea of rules? Did you know that, since the Hawke government, every single government has adopted fiscal rules for their Treasurer, except the Albanese government? We put it to the Treasurer this week and asked if he would introduce fiscal rules. He said he doesn't want to introduce fiscal rules. We put it to the Prime Minister and asked if he will rein in the Treasurer—is he strong enough to do that?”
“The thing is that it's not just the pain of the Australian people today. We know this government is quickly raising the debt to $1 trillion. By their own estimate it will hit $1.2 trillion by the next election. This is Labor's debt, which will be left to the next generation of Australians to pay off. Our children and theirs will pay the price of this government's debt. Their plan is 10-plus years of deficits. And why? It comes down to one reason: this government cannot stop spending. They're on a spending spree. We know that spending as a percentage of GDP has gone from 24 per cent up to 27 per cent. In this financial year, they are spending $160 billion more than what the coalition spent in our last budget. They just can't help spending. I raised this at the roundtable and made it crystal clear that the government has to stop spending.”
“Today the shadow minister asked the Minister for Climate Change and Energy for an explanation as to why these energy costs are going up, but the government cannot answer the question. It is a direct consequence of government policy, and it's the Australian people who are paying the price. This is a government that puts itself at the centre and not the Australian people. Of course, the Treasurer claims that this government has done a wonderful job when it comes to interest rates. However, the average mortgage holder today is paying $1,800 more in interest payments every single month than they were when Labor came to office. As of today, they're paying $1,800 more every month in interest payments, and that is just the average mortgage holder. Why? It's because this government cannot manage money; this government cannot manage the economy.”
“This is the plan of the Albanese government: to basically concentrate the power of these three and to expand the tentacles of government into the lives of everyday Australians. It is Labor which sees government at the centre of Australian society. It is the coalition that believes that the centre of Australian society should be the Australian people. Now, in the government's fourth year, the Australian people are starting to feel the real symptoms of a government that puts itself at the centre and not the people. The Australian people are feeling that through their everyday living expenses. It's why we heard this week that, since Labor came to government, the cost of electricity has gone up by 39 per cent and the cost of gas has gone up by over 38 per cent.”
“Those with even the smallest knowledge of the bare basics of economics would see these markers as self-evident truths, yet Labor's roundtable defied all three. The outcomes of Labor's roundtable will be higher taxes, higher costs of doing business and a higher burden on future generations. Let me be very clear: the coalition did not agree to the outcomes of Labor's roundtable, and the coalition did not agree to the principles against which this government wants to raise taxes for everyday Australians. As I reflect, albeit only one week after the roundtable, I realise this was less a productivity roundtable and more a socialist summit. What we saw was an unholy trinity of big government, big unions and big superannuation funds.”
“It took the Albanese government three years to realise that Australia's living standards had dropped more than those of any other developed nation. It then took them three months to organise a meeting that would go for three days to ask other people what to do about it. I was one of 25 people issued a golden ticket from the Treasurer to attend that roundtable. On accepting the Treasurer's invitation, I put out three markers on behalf of the coalition. If we're to deal with Australia's living standards, these three markers are key: No. 1, you do not raise living standards by raising taxes; No. 2, you do not raise living standards by raising the cost of doing business, and, No. 3, you do not raise living standards by raising the burden on future generations.”
“Homelessness is something that I care deeply about and it's why I have secured around $4 million to address local homelessness over recent years. But the influx of people is impacting not just homelessness; it is leading to a lot of antisocial behaviour, to people feeling unsafe, to businesses being worried about their staff and households being worried about their youngsters. I want to assure the people of Nambour that the three levels of government are working together to find an integrated solution. Bright days will indeed be again ahead.”
“Lying at the foot of the Blackall Range on the Sunshine Coast is the beautiful town of Nambour. I can tell you that Nambour has it all. It has the most extraordinarily beautiful local environment and transportation connectivity which is second to none—road, rail, right next to the Bruce Highway. It has schools and hospitals that are likewise absolutely excellent. It has a community which is close-knit; they give each other support and they're building that local economy. But Nambour has been struggling of late, and that is evidenced by a petition which has garnered around 1,500 signatures, which says: 'Make our parks and public spaces safe again.' This reflects an influx of people, where there is no accommodation for them in the town.”
“My question goes to the Prime Minister. I refer to the Treasurer's claim in his previous answer that he has a fiscal rule to control spending, which is to bank most of the upward revision in revenue. However, according to his own pre-election budget, the upward revision in revenue was $8 billion. He plans to blow the lot—plus another $26 billion. Will the Prime Minister insist that his treasurer introduce quantifiable fiscal rules to stop his spending spree?”
“Often, history is a good record as to where someone might go, and so I dug out the taxes that this treasurer has had something to do with. We're talking here about the carbon tax, the mining tax, the superprofits tax, the resource tax, the safeguard tax, the family car tax, the housing tax, the retiree tax, the family trust tax, the small-business tax and the deficit levy tax—and this is just a sample.”
“That's not genuine. Even the most recent national accounts show that the savings-to-income ratio has gone up to 5.2 per cent. So, at the very time that households are showing fiscal prudence, this government is spending. Not only are we going to see $1 trillion of debt this year but we will see deficits over the next 10 years. That is this newly elected Labor government's plan for the Australian economy: $1 trillion of debt and 10 years of deficits. This places the Treasurer at a fork in the road. He has a choice here. He can turn right and stop the spending spree, or he can turn left and increase taxes. Is there any guess as to which way the Treasurer might go? Could this treasurer, the member for Rankin, possibly increase taxes?”
“But, more than that, this is morally bankrupt, and it is so because every single dollar that this Treasurer borrows goes on the shoulders of the next generation. This is akin to the Treasurer taking the credit card where the words imprinted on it are 'future generation' and just racking up debt. It is like the mums and dads of Australia going into their children's rooms, stealing their credit cards and going out on a spending spree, hoping that maybe one day the kids will pay back that debt. That is where this is so morally repugnant. We know that Australian families have been doing it tough. They've been in household recession, and what have they been doing? Unlike the government, they have been living within their means. If the everyday Australian family has to do it, why shouldn't the Australian government? That's not fair.”
“To put that into perspective, that means Labor's spending this year is $160 billion higher than when the coalition left office. This equates, on a household level, to $16,000 per Australian household. You can imagine doorknocking your local community and asking them whether or not this year they're feeling value for money, with an extra $16,000 being paid out by this Commonwealth government. The spending spree is genuinely out of control, and the problem is that what's funding it is more debt. The Treasurer has added more than $112 billion in new debt, which is why, this year, debt is set to reach $1 trillion. Debt hits $1 trillion this year under this Albanese government. Of course, nobody would argue that this is not fiscally irresponsible.”
“Australia is going in the wrong direction. Under Labor, Australia is becoming poorer. Under Labor, Australia is becoming weaker. Under Labor, Australia is becoming more dependent on other nations. And the only way this can be turned around is if the Labor government starts to put the Australian people, rather than the government itself, at the centre. In order to do this, a prerequisite is to fix the budget. We all know—on both sides of this chamber—that the Australian government's budget is not sustainable. We know that Labor also appreciates that, because the Treasurer conceded as much only weeks ago. Herein lies the test for the Labor government: the starting point for fixing the budget is to stop the spending spree. As a percentage of GDP, spending has gone up from 24 per cent to 27 per cent under this government.”
“My question goes to the Treasurer. Former Labor prime minister Paul Keating has reportedly described Labor's unfair super tax as 'unconscionable'. Mr Keating said young people entering the workforce today will see their super balances rise to hit a higher threshold in the future—the same threshold at which Labor's unfair super tax kicks in. Treasurer, are these views of Mr Keating's wrong?”
“My question goes to the Treasurer. Under Labor there have been 12 interest rate increases, inflation remains too high, a five per cent productivity collapse, a household recession and the fastest fall in living standards on record. Yet the Treasurer has boasted about the unemployment rate. What does the Treasurer tell the Australian people now that the unemployment rate has spiked to its highest level in almost three years?”
“Colleagues, if we as a nation want to unlock the economic capacity of this country, then we have to back enterprise, we have to back entrepreneurship and, in particular, we have to back young Australians who have the guts to take an idea all the way through and make it a reality. Go the GI Challenge!”
“This week the 2025 GI Challenge will be launched. Run by Generation Innovation, the GI Challenge unleashes the innovative genius of young Australian entrepreneurs. The younger you are, the harder it is to start a business. Typically, you're challenged by three things: (1) you don't have business experience; (2) you don't have a business network; and (3) you don't have money to start a venture. This is where Generation Innovation comes in, wrapping support around these young entrepreneurs and helping them meet these challenges—thanks to a range of sponsors and very generous and experienced businesspeople who donate their time. This year's GI Challenge will see 10 ideas in the mix, ranging from energy to mental health, sport, safety and recycling. They demonstrate the best of ideas and the best of entrepreneurship.”
“My question goes to the Assistant Treasurer. On 19 May this year the Assistant Treasurer said, 'around 10 per cent of taxpayers' will be hit by Labor's unfair super tax. Can the Assistant Treasurer confirm to the House that his publicly announced 10 per cent figure will mean that at least 1.2 million Australians will be impacted by Labor's super tax?”
“My question is to the Treasurer. Does the Treasurer know which of his colleagues told the Australian newspaper, 'I hate the principle of taxing unrealised capital gains', as reported on today's front page? Given so many in the labour movement, including Paul Keating, have similar concerns, how does the Treasurer justify taxing Australians on money they have never actually received?”
“My question goes to the Prime Minister. Given the Treasurer's refusal in his previous answer to rule out taxing unrealised capital gains beyond superannuation, can the Prime Minister advise the House if taxing unrealised capital gains on the family trust or the family home is to be considered by this government?”
“I move: That so much of the standing and sessional orders be suspended as would prevent the following from occurring immediately: The Member for Fairfax making a statement of no more than 15 minutes in relation to the Select Committee on Nuclear Energy's interim report into the inquiry into nuclear power generation in Australia. What is it about the Labor Party, when they want to gag debate on nuclear energy—”
“Independent modelling done by Frontier Economics showed something similar, and that is that, when you compare the Labor government's all-eggs-in-one-basket, renewables-only approach all the way through to 2050—the total system cost of Labor's plan—to the coalition's balanced energy mix of renewables and gas, with coal retiring from the system and zero-emissions nuclear energy, the coalition's plan is 44 per cent cheaper than Labor's plan. Government members interjecting— I'll take some of the interjections from those opposite. One of the big differences between Labor's plan—”
“The United States Department of Energy released a report last year which compared the total system cost of a renewables-only plan for the US with that of a plan for a balanced energy mix of renewable storage and nuclear energy, and what the Department of Energy in the United States found is that, once you have nuclear in the mix, the total system cost reduces by 37 per cent. That data, that evidence, was not challenged by anybody through the course of this inquiry. Then you look at Australia.”
“Why do the Democrats and the Republicans in the United States come together on nuclear energy? They know that, when used as part of a balanced energy mix, nuclear energy gets prices down. It solves energy security and it is the best means, the fastest means, of decarbonising electricity grids. Indeed, we've seen this again in the evidence before the committee. If you look at the world's top 5 fastest decarbonisations of electricity grids, four of the five are due to nuclear energy. Let me go to some of the detail. In particular, the chair of this committee raised the issue of cost. I was just speaking about the United States.”