This is Nick Smith in Parliament yesterday, replying to a question on Treasury’s re-calibrated $50 billion costs of Nationals ETS Bill:
Hon Dr NICK SMITH: That number is a fantasyland number. Let me tell the member why. The member opposite wants to give great credence to what might occur in 2050. It is not rocket science that if, in the assumptions, one doubles the carbon price from $25 to $50, surprise, surprise, the cost goes up.
He should apply that logic to the supposed costs of fully funding ACC. Those are fantasyland numbers too.