That’s why we need to act decisively to protect our way of life and the Australian economy. Climate change and the global financial crisis The world is currently confronting the worst financial crisis in three quarters of a century, but this does not mean we can ignore the threat climate change poses to our long term economic prosperity. On the contrary, this current crisis makes it more important we secure the long term prosperity that comes from building the low pollution economy of the future. It is often easier for governments to focus on immediate circumstances at the expense of long term challenges, but ignoring these challenges only makes them worse. Analysis from the Australian Treasury and Professor Ross Garnaut demonstrates the longer we wait to take action on climate change, the more it will cost.
The Australian Government will continue to act decisively to protect Australia from the worst effects of the global financial crisis while also addressing the long term challenge of climate change. The Government is determined to get the balance right. This means securing Australian jobs and assisting households today, while at the same time moving to the low pollution economy that will create the jobs of the future.