Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

Yes. My mother always told me that—very precious.

I refer the senator to page 32, table 3.1, which sets out the assumptions in the international global action scenario. It refers to the fact that the assumption is:

… from 2013 to 2015 uncoordinated global action, no trade in permits, differentiated carbon prices. From 2016 onwards, countries trade, either bilaterally or through a central market.

That is a very different thing to the assertion that the opposition is making that the modelling assumes an explicit carbon price through an emissions trading scheme in place in the United States.

I also refer to the Prime Minister's answer yesterday which made it very clear—and I think my answer reflected this—that there are—

Opposition senators interjecting—