Labor to take its time on NEG

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Quite rightly:

“What’s very clear is that the government is scrambling. We have policy on the run. We have an energy policy being put together with strings and bandaids,” shadow treasurer Chris Bowen said Tuesday morning.

“What is very clear and has been publicly confirmed by the Energy Security Board, is that this policy that is being put together by the government has no modelling, we have no guarantees, as has been made clear, and that this is being cobbled together in a desperate attempt to stop the Liberal Party room going into meltdown.”

However, Mr Bowen said Labor was prepared to engage with the process.

“The Labor Party will continue to be the adults in the room here. We have been offering the government bipartisanship for months. We told them they could have bipartisan support for a Clean Energy Target,” he said of the policy now dumped for the latest incarnation.

“We will take the sensible, mature approach. We will wait to see the modelling, we will engage with states and stakeholders and experts and we will deal with the government’s policy when they actually announce a detailed plan, a proper plan, a plan with modelling, a plan which has been considered by the Treasury and other agencies.

“What we won’t do is respond to this ridiculous policy on the run.”

The key remains the emissions intensity target. If that is not up scratch then it is worthless.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.