Kevin Rudd will begin the fight of his life, entering the final days of the campaign the underdog. Source: AAP
OPPOSITION Leader Tony Abbott is standing by his claim greenhouse gas emissions will fall by five per cent under his Direct Action plan, despite a lack of any internal modelling.
Mr Abbott used an address to the National Press Club in Canberra on Monday, five days out from the federal election, to mount an economic argument for abolishing Labor's carbon tax.
Australia faces a cumulative loss of $1 trillion in gross domestic product between now and 2050 if the carbon pricing regime introduced last year isn't scrapped, he said.
"It's as if the entire country were to stop work at some stage over the next 40 years for the best part of a year," Mr Abbott said.
"Without a carbon tax, an economy that's three per cent bigger or $40 billion a year wealthier could much more readily afford the Gonski school changes and the national disability insurance scheme."
Mr Abbott insisted the coalition would meet its target to cut carbon emissions by five per cent by 2020 without a carbon tax.
The $3.2 billion Direct Action plan, which includes using soil and trees to soak up emissions, would be enough to meet the target, despite two earlier studies by Monash University and Sinclair Knight Merz suggesting it could cost much more and still not do the job.
"We will get as much environmental improvement, as much emission reduction, as we can for the spending we have budgeted and we are very confident we will achieve the five per cent," Mr Abbott said.
Asked whether the coalition would offer economic and scientific modelling to confirm this, Mr Abbott said: "I think I've answered the question."
The opposition leader also reiterated he did not think any companies would pay the Direct Action plan's in-built "penalty" for increasing emissions.
However, Climate Change Minister Mark Butler said emissions data shows the penalty would raise as much as $350 million a year and could be passed on by business to consumers.
"Mr Abbott's climate plan is environmentally ineffective," Mr Butler said.
"It remains an expensive joke and a fraud on the Australian people."
The coalition could win government on September 7, according to the latest Newspoll showing Labor's primary vote has dropped to 33 per cent - its lowest since Prime Minister Kevin Rudd was returned in June.
Mr Rudd said he wasn't giving up and expected to prevail on Saturday.
The prime minister campaigned in southeast Queensland on Monday and announced a jobs plan for his home state that effectively repackaged programs revealed earlier in the election campaign.
Mr Abbott also on Monday launched the coalition's defence policy at Sydney's Holsworthy Army Barracks and repeated a pledge to quarantine the sector from cuts and lift spending to two per cent of gross domestic product within a decade.
Mr Rudd is expected to continue campaigning in Queensland on Tuesday while Mr Abbott's due to be out and about in Adelaide.
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