The Government’s report on the Economics of Climate Change has totally disregarded the largest economic crisis we have seen in recent history, Senator Barnaby Joyce today said.

“As we have come to expect with Labor’s pattern of arbitrary decision making, today’s report on the challenge of climate change has totally ignored the challenge of economic change. This is the most crucial component in any analysis of the Nation’s future,” Senator Joyce said.

“The economic data that accompanies this modelling, one of the largest ever undertaken in the Nation, can be deemed irrelevant as it is based upon a false economic premise.”

Senator Joyce went on to say, “One should not confuse courage with belligerence. The Nation’s economic future is precarious and the source of our wealth is vulnerable to the effects of an emissions trading scheme. As such, pursuing the ideal of a ‘Carbon Pollution Reduction Scheme’ is akin to ignoring critical advice when it is most needed.”

“The Government’s belligerent and idealistic emissions trading scheme manifesto cannot be taken at face value. While the Labor Party would have you believe the implications of an emissions trading scheme would be minor, they have failed to consider the largest economic crunch in recent history.”

“Under this scheme, the Australian aluminium industry will see a loss in production of 35 per cent by 2020 and 49 per cent by 2050. Industries will move offshore where regulation is lax and expansion is encouraged. All we will achieve is the acceleration of carbon emissions overseas and the breakdown of our economy.” Senator Joyce said.

“This action again demonstrates the Government’s lack of economic experience.”

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