Senator BACK (Western Australia) (15:26): 'There will be no carbon tax under any government I lead.' I remind Senator Gallacher, through you Mr Deputy President, that to start quoting Liberal prime ministers of the past will come home to bite him, and come home it did. I also congratulate Senate Gallacher on very accurately and astutely quoting the Treasurer of this country's vision. What is a vision? A vision is where you see the country being in the long term. Then, from that vision, you work backwards. You work through strategies, you work through tactics, you work through consultation, you work through the whole process and you deliver your vision over time. I have to say that Senator Brandis and, indeed, Senator Cormann exercised a high degree of grace and courtesy in their responses to the question by Senators Urquhart and Gallacher, because the answers could have been given very shortly and, needless to say, they were that the government is not changing the 50 per cent CGT discount for individuals. They could have just said that and then sat down. It is amazing. I heard in this place from Labor senators today reference to changes to negative gearing. And what do you think came across my mind? It was the live export trade, where that crowd, in government, with reference to nobody and against the advice of a Liberal senator who actually knew something about the trade, came in overnight and cut the guts out of the live export trade—and they now plan to do it, if they have their way, which they will not, with negative gearing. What would we see if Labor policies were introduced for negative gearing? We would see one-third, 33 per cent, of the housing market immediately dissipate. It would not be the eight or 10 per cent that happened to the cattle industry in the live export trade; it would be more than one-third. We hear about the white-shoe brigade from Senator Cameron. Was he talking about Senator O'Neill, an investor in negative gearing? Was he talking about me? I am not a member of the white-shoe brigade, but I certainly am a participant in negative gearing, let me assure you. I challenge the Labor Party to go out there— Honourable senators interjecting— The DEPUTY PRESIDENT: Senator Back, I was actually going to ask you to resume your seat so that I could bring the Senate to order, but Senator Conroy is looking to raise a point of order. Senator Conroy: On a point of order, I think, when there is a clear conflict of interest being declared like that, it is only incumbent on the good senator to declare how many homes he has negatively geared. The DEPUTY PRESIDENT: There is no point of order. Senator BACK: There is no point of order, and there is no conflict either. This is a convergence of interests, because I am like many other Australians, like many on the Labor side, who have the common sense to avail themselves of the opportunities that are available to them through the taxation system in this country—as many on your side do. Senator Conroy—through you, Mr Deputy President—do you know what happens when you invest wisely over time in negatively geared property? It actually becomes positively geared. We have positively geared investments, and they contribute to the Australian tax system. Isn't that an amazing notion for the shadow minister—that negatively geared property could in fact become positively geared and become a positive contributor! There is a very clear distinction between this government and the other mob when they were in government. We have heard Senator Cormann say that all our policies are associated with cutting tax for small business, free trade agreements which are now stimulating so much export income in the services and in the commodity sectors, and the $50 billion infrastructure fund. There is an allegation and accusation that we are not rushing into things. What did Labor do in government? You rushed into the 'Gillard memorial halls', many of which are now falling down. You rushed into pink batts, and we all know the outcome there. You rushed into the $900 and the $1,200 cheques that largely ended up in poker machines, alcohol and drugs. Go and ask the people who work in accident and emergency departments of hospitals where those moneys went. This government will not be rushing into its final decisions associated with policy development. There is a budget coming up in May. It will be presented on the basis of careful thought, careful consideration, of the implications—not the pink batts analogy but on the basis of clear and careful persuasion—which will be of the greatest benefit and, as Senator Cormann said, to develop strength in our economy and more jobs in a fair fashion.