Interview with Laura Jayes, AM Agenda

20 November 2024

Topics: Labor’s renewable only energy plan, nuclear, international student caps.

LAURA JAYES: Joining me now is our Shadow Finance Minister, Jane Hume. Jane, thanks so much for your time. Of course, the 2050 target of net zero is a bipartisan one. There's some within The Nationals that aren't quite comfortable with it, but essentially it comes down to renewables not being as cheap as has been made out, particularly by the Minister and one of the key concerns is coal. We are rich in coal resources. It is actually the cheapest but not the cleanest form of energy. China has signed up to Paris but is still burning 56% of the world's coal. Is this causing a rethink in the Coalition?

JANE HUME: Laura, Australians across the country are committed to a net zero emissions future. We all want to see a cleaner and greener energy system. But the question is at what cost? Our concern is that Australians are facing rising bills, those ever increasing energy bills, an increasing burden to the taxpayer and an increasingly unstable electricity grid at the same time. The Labor Government have said time and time again, that their renewables only approach is going to cost Australians around $122 billion. Well, there was some research that came out last week from an independent agency, Frontier Economics, and they said that the true cost of Labor's renewables only plan is going to be about five times that much, about $642 billion. That's extraordinary. Now, that's not the Coalition saying this is an independent economics and research organisation and that's not based on pie in the sky stuff either. It's based on AEMO's system, integrated, step change system, scenario. I think they call it the step change scenario. So it's AEMO's approach that has been re-costed, to include things like the real cost of generation, of storage and transmission of energy. So this allows us now to far better compare apples with apples, rather than that, Labor, renewables only, all eggs in one basket approach. An energy system that includes renewables, certainly, but that firming gas over time that we need to shore up the system and also the addition of nuclear energy to replace coal, when coal is taken out of the system in the future. That, having that transition approach, we believe will bring down bills in the future and it will provide a more stable grid as well.

LAURA JAYES: A couple of things to say here, because I don't think untruths in this debate help. It should be said that Labor's approach isn't all renewables, but it is majority renewables. We should say that. When you say we can now compare apples with apples, when it comes to the costs, we don't know the cost of your nuclear plans. So if we are going to have this proper debate, when are we going to get those figures?

JANE HUME: Yeah, we've said numerous times now that we will provide the full costings of our energy plan before the end of this year, but that comparison point is really important because labor keep calling out what's the cost of building nuclear power stations? Well, that's not the issue. The issue is a comparable system. Their system, renewables only approach versus our system, which is a mix of technologies in order to create the most efficient system and lower energy bills over time.

LAURA JAYES: But you would still have a fair bit of renewables under your plan, isn't it? What's the percentage? Would it be 50, 60, 70%?

JANE HUME: Well, it depends on the time, of course. We want to make sure that there is renewables in the system, you're right. But we want to make sure that it's the cheapest mix, making sure that we've got that firming power underneath the renewables but also the emissions free nuclear on top of that at the end. So it's about getting to net zero in a sustainable and credible way, rather than just saying it's a renewables only approach. We know that Labor want to have 80% renewables in the system by 2030. We think that is absolutely impossible and even Labor's own estimates look like that's becoming increasingly less likely.

LAURA JAYES: Well, 80% isn't renewables only. But yeah, that's right. The cost is enormous.

JANE HUME: At what cost.

LAURA JAYES: Look, I'd love to have Chris Bowen on the show. I'd love to have a conversation with him. Let's hope that can happen. We're running out a bit of time here. So I just want to quickly ask you about uni caps. What's the Coalition's position when it comes to overseas students now, are you rethinking your plan?

JANE HUME: So, we have always said that we would cap the number of international students, but it has to be done in consultation with the universities, not just the, you know, the city centric universities either the, you know, the G8 guys, but also the private providers and the regional and rural universities, too, to find the right cap that is going to work for the system. We want to attract international students. We want the best and the brightest, but we've also got to make sure that the system underneath, the visa system, that is supporting our international student program is working and it isn't, clearly, at the moment, because we've got students that are staying and not leaving. It's now about a million current and former international students here in Australia right now. There's a series of visas that these international students are on. Some of them are bridging visas. Some of them are partner visas or secondary student visa holders. Some of them are Covid worker visas for goodness sakes.

LAURA JAYES (INTERRUPTS): But you did put a number on it. But the Coalition did put a number on international students. What is it at the moment before you consult?

JANE HUME: We actually said that we would reduce the permanent migration intake by 25% over the next two years, and of course, international students will be a part of that. But the number of international students must be consulted with universities.

LAURA JAYES: That might need to change with consultation.

JANE HUME: Yeah, that's right. To make sure that we have a system that is working for everybody.

LAURA JAYES: So you might need to be a little bit more generous than first thought?

JANE HUME: We wouldn't hope that we would need to be. That 25% reduction in the permanent migration intake is fundamentally important to make sure that we relieve the pressure on our housing system and also our essential services.

LAURA JAYES (INTERRUPTS): So is that a firm commitment?

JANE HUME: That's the commitment that Peter Dutton made in his Budget Reply speech, a reduction in the permanent migration intake of 25% in the first two years of a Dutton led Coalition Government.

LAURA JAYES: Jane Hume, always good to see you. Thanks so much

JANE HUME: Thanks, Laura.