‘Cost of not acting far worse’

Bill Shorten has changed his approach to fielding questions on Labor’s lack of costings for its climate change policies.

Bill Shorten appearing on 7.30 this evening. Picture: ABC

Bill Shorten has changed his approach to fielding questions on Labor’s lack of costings for its climate change policies, saying “the cost of not acting on climate change is far worse than acting” on it.

During an interview on ABC’s 7.30 tonight, Mr Shorten also rejected the idea that Labor’s position on the Adani coal mine project had flipped between saying one thing to people in regional Queensland, and one thing to environmentalists.

Responding to a question on Labor’s proposal for investment in renewable energy, Mr Shorten again acknowledged the Opposition was unable to provide detailed costings for the policy.

“There is an initial cost … but most people who go to solar on households, they don’t go back, do they?” he said.

“I am saying to you very clearly that both in the short term and the long term, the cost of not acting on climate change is far worse than acting on climate change.

“When you talk about cost, what’s the cost to the environment? Well the cost is in not acting. When you talk about the cost to business, the reality is lots of businesses are so far ahead of government they’re already investing,” he said.

Asked on the economic cost of having a 45 per cent target for the reduction of greenhouse gas emissions, Mr Shorten said: “It won’t have a negative effect on economic growth. Most of the mainstream modelling shows that our economy will continue to grow.”

Mr Shorten rejected the idea that Labor was sending conflicting messages about its position on the Adani coal mine project to different demographics.

“Our position is very clear. Got to stack up commercially. Got to stack up scientifically. Got to stack up according to the law and we won’t engage in sovereign risk.”

“I’d say that my view on this mine is going to be based on the best science, whether or not it stacks up, and if it is, if it stacks up and passes all the scientific tests. I won’t engage in sovereign risk. We won’t arbitrarily up-end things,” he said.

On Labor’s policy to end refundable franking credits for retirees with a self managed super fund, Mr Shorten said:

“When you get an income tax credit, when you haven’t paid income tax, it’s a gift from the Government. You’re already on the public purse.”

“Mr Morrison has been most dishonest in this. He says we’re coming for people’s savings. No, we’re not. He’s been most dishonest and saying somehow it’s a tax.

“What currently happens — and people come up to me all over Australia who say, seriously, can you believe it, when you don’t pay income tax you get a tax credit?

“Not only do you get the income tax free, you get a 30% top-up from the Government.

“It is eating the budget and it’s just a gift,” he said.

Mr Shorten also rejected that a future government under his leadership would be one based around taxing wealthy people to redistribute income to lower earners.

He said his government would be about “A fair go for all. We’re going to invest in people and invest in infrastructure.”

“This election is about a choice. The government is saying stay the course. Stay with the current mob. We’re staying, no, this nation can do better.

“That’s why we are closing loopholes, we’re stopping spending money on franking credits. We’re going to stop giving out tax cheques to people who haven’t paid income tax,” he said.