CANBERRA—The Rudd government's emissions trading scheme will help transform Australia into a low-carbon economy with great opportunities for business, the federal treasurer says.
Wayne Swan laid out the commercial benefits of the proposed scheme towards the end of a long day spent debating the ETS legislation in the lower house.
He said carbon trading was critical to help build the low-pollution economy Australia needed to prosper in the future.
The business community was "absolutely desperate" for certainty so it could invest with confidence, Mr Swan told parliament.
"They do understand the need for a low-pollution economy and they know this type of transformation requires long term planning and strategic business investment decisions right now.
"There are very strong employment and growth reasons for acting now."
Mr Swan said Treasury modelling indicated by 2050 the output of the renewable energy sector would be 30 times larger than it is now.
But he said the coalition couldn't bring itself to join the modern world because it was riddled with climate sceptics.
"(However) tonight I have a pretty simple message," he said.
"The time for dithering, the time for delay, the time for denial is over."
The government wants parliament to approve its scheme before global climate talks in Copenhagen in December.
A vote is due to be held in the lower house in the week beginning November 16.
The legislation would then go straight to the Senate, to be voted on in the week beginning November 23.
Labor and the coalition are currently in negotiations over opposition amendments to the scheme.
But Mr Swan wasn't prepared to say how those talks are proceeding.
"I'm told that so far that's coming along," was all he would say.
"We look forward to negotiating with them (the opposition) in good faith."
