Federation Chamber (part 3 of 3)
27 October 2026
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Federation Chamber Australian Parliament
00:00 - 00:18
Speaker 1
Pretty little three-bedroom house in the outer suburbs of of Southeast Queensland. $800 a week. How does a small business really pay those wages? But they have to, because that's what the cost of living is. And so the strategy was with energy.
00:18 - 02:06
Speaker 2
And here I quote Peter Dutton. Not that I'll do that a lot, but I thought Peter Dutton really summed it up perfectly when he said that, in fact, I've forgotten the exact quote, but the the punchline was energy is the economy.
Energy's not just part of the economy, energy is the economy. And in fact, you know, when you look at us, we're in, you know, a society born out of the industrial revolution, an economy born out of the industrial revolution with steam and coal of the 19th century, of oil and the internal combustion engine of the 20th century, and of electricity and renewable energy of the 21st century. Energy is the absolute, absolute, as I said, not just the bedrock of the economy, energy is the economy. And so it was that in South Australia, but as it was around Australia as well, we had state-owned, publicly owned energy assets which provided electricity as an essential service, not to make a profit off pensioners, to give a break to people, to keep the cost of living down for people, but also to keep the cost of business down for manufacturing.
So publicly owned housing, publicly owned energy assets really made Australia after World War II. And in the 80s and the 90s, we started to follow this, this mind virus of economic rationalism where we thought that the private sector can always do better. Well, I am all about entrepreneurialism. Anybody that has sat through one of my speeches would know that I quite often talk about my own experiences building my own companies. The spirit of entrepreneurialism is the spirit of being human.
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