Mr HOCKEY (North Sydney) (14:19): Mr Speaker, my question is to the Treasurer. I remind the Treasurer of Westpac's announcement that it will have to lay off staff, OneSteel's announcement that 400 jobs are going to go, Qantas's announcement that 1,000 jobs are going to go, BlueScope Steel's announcement that 1,000 jobs are going to go and that 400 contractors will lose their work too. I ask the Treasurer: on top of volatility in the United States and Europe, is now really the time to be introducing an economy wide job-destroying carbon tax that will undermine confidence and make our exports even more expensive?