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

The answer to the second part of the question is no. On the answer to the first part of the question, I refer the senator to President Obama's press conference on 16 November, where he stated:

… we can meet the commitments we made in Copenhagen and Cancun.

The point is: we assumed in the modelling that countries would do precisely what the President has said the United States will do. We have assumed precisely what the President has said the United States will do. If the opposition are asserting that this is a question about explicit or implicit carbon prices, I would make this point: if you say direct action imposes a carbon price then you impose a carbon price. Your policy does too. What we are saying is that we assume the United States will do what they said. (Time expired)