Treasurer Wayne Swan has warned business it must follow the law of the land and if that means buying carbon permits, that's what they must do.
Mr Swan was responding to Opposition Leader Tony Abbott's advice that businesses should not buy more carbon permits than they needed now.
The coalition plans to scrap Labor's carbon pricing regime if it wins office at the next federal election.
The regime comes into operation on July 1, 2012, possibly 17 months before the election is held.
"When this piece of legislation goes through the Senate it will be the law of the land," Mr Swan told ABC Radio from London.
"What I would advise the business community and people generally is to follow the law of the land.
Mr Abbott has said that business won't have a problem with the regime being scrapped provided they did not buy any more carbon credits "than the ones you actually need now".
His deputy Julie Bishop has warned businesses could miss out on compensation for their carbon credits if the scheme was ditched following a change in government.
Mr Swan rebuked the opposition leader saying his actions were "deeply, deeply irresponsible" and showed that Mr Abbott was not fit for high office.
Australian Greens senator Christine Milne said the opposition's stance was a "triple whammy" that would affect business, households and jobs.
The coalition was increasing uncertainty in the electricity sector.
"They are quite happy to drive up electricity prices to every household because they will do anything to get into power," Senator Milne told reporters in Canberra.
Prime Minister Julia Gillard said if the carbon price was repealed, Australia was at risk of being stuck with an "old-fashioned economy".
"I don't want to see us being a nation that's left behind as other countries around the world and in our region need clean energy jobs," she told ABC Radio.
She said the list of big polluters required to buy carbon permits would become known once the scheme began operating.
While the government already had a website tracking carbon emissions, Ms Gillard said those eligible to pay a carbon price would be calculated on a different measurement.
"It goes to what is happening at a site level, so that is a new piece of information," she said.
That will be worked through before carbon pricing starts.