Mr HOCKEY (North Sydney—The Treasurer) (14:26): I thank the honourable member for the question. I can now advise the House, all members, that the Senate has just repealed the mining tax. The mining tax is now gone. It is testament to a failed Labor government, failed economic policy, failed taxation policy and a failed Treasurer. The fact is that we promised we would set about fixing the economy and fixing the budget, and that is exactly what we are doing. We are getting on with the job. When we first came to government— Honourable members interjecting— The SPEAKER: We will have silence on both sides, thank you. Mr Perrett interjecting— The SPEAKER: The member for Moreton can remove himself under 94(a). The member for Moreton then left the chamber. Mr HOCKEY: When we first came to government we identified 93 announced but unlegislated taxation changes which occurred under Labor and previous governments. We got on with the job of clearing the decks. We promised the Australian people that we would in our budget collect less tax than would have been collected under Labor if they were re-elected. We delivered in full. We said that we would get rid of the carbon tax—and we delivered in full. We said that we would get rid of the mining tax—and we have delivered in full. We said that we would get on with a financial system inquiry, and we have done that. We said that we would get on with a competition inquiry, and we have done that. We said that we would have a commission of audit, and we did that. We said that we would build infrastructure for the 21st century, and we are doing that. Mr Shorten interjecting— The SPEAKER: The Leader of the Opposition will desist. Mr HOCKEY: We are building the equivalent of eight Snowy Mountain schemes in additional infrastructure over the next eight years. The Labor Party are opposing that because they are in denial. Mr Brendan O'Connor interjecting— The SPEAKER: The member for Gorton is warned. Mr HOCKEY: The Labor Party is in denial. The Labor Party still believes in a 1980's Australia. The problem is that a 1980's Australia cannot compete with the rest of the world in the 21st century. Mr Champion interjecting— The SPEAKER: The member for Wakefield can remove himself under 94(a). The member for Wakefield then left the chamber. Mr HOCKEY: We are building a 21st century economy, despite the opposition of Labor. Be sure of this: what hurts Labor the most out of the decision on the mining tax today is that it shows how irrelevant the modern Labor Party are. The Labor Party did not want to deal with the deficit and the debt limit that they created and they were dealt out. They did not want to deal on FoFA and they were dealt out. They did not want to deal on the carbon tax and they were dealt out. They did not want to deal on the mining tax and they were dealt out. The modern Labor Party are irrelevant. The only reason the Palmer United Party are relevant in these discussions is that the Labor Party and the Greens are voting for them. That is the only reason. And you know what? The only way the Labor Party will ever be relevant is if they start to believe in something—but don’t hold your breath.