Mr HOCKEY (North Sydney) (15:22): My question is to the Treasurer. I refer the Treasurer— Honourable members interjecting— The SPEAKER: Order! The member for North Sydney has the call. The Leader of the House. The member for North Sydney will ignore the interjections and the interjections will cease. Mr HOCKEY: I refer the Treasurer to the IMF's assessment of the current economic conditions. It says, 'The global economy is in a dangerous new phase. Commodity prices could decline abruptly in their downgrading of Australia's growth forecast.' I ask the Treasurer: is now the right time for Australia to be the only country in the world imposing an economy wide carbon tax?