Mr HOCKEY (North Sydney) (14:07): My question is to the Treasurer. I remind the Treasurer that this year's World Competitiveness Yearbook shows only eight per cent of respondents found that competency of government was attractive in Australia, only five per cent approved of Australia's tax regime and only 12 per cent found Australia a business-friendly environment. Can the Treasurer explain how 21,000 new regulations plus 39 new or increased taxes under this government has made Australia more globally competitive?