Mr MARTIN FERGUSON (Batman—Minister for Resources and Energy and Minister for Tourism) (14:13): I thank the honourable member for the question, which really raised the importance of the mining tax. Our endeavour to put in place a profits based system in Australia is exceptionally important to the future of Australia. It is about time the coalition understood that we are very fortunate as a nation. There is a huge pipeline of investment in Australia to the tune of $455 billion in either planned or committed capital investment. It is also time they understood that our economy is going through a major transition at the moment. Whilst a significant part of our economy is getting major benefits in the process of this investment, there are other parts of our economy that are challenged by the impact of the dollar and, I might say, disappointing commodity prices, such as the aluminium industry. That is the case internationally at this point in time. I also say to the opposition that only Labor have the capacity to manage this transition, just as we, during the period of 1983 to 1996, were the only party capable of opening up Australia to the process of globalisation. Mr Hockey: Mr Speaker, on a point of order, the question was about whether, when he said that the Treasurer should take a good, hard look at himself, he was referring to the bungling of the mining tax or the other issue. The SPEAKER: The second part of the honourable member's question was ruled out of order. The minister will assist the House if he is as precise in his answer as he can manage. I call the honourable minister. Mr MARTIN FERGUSON: When it goes to a question of having a good, hard look at yourself, it is time the coalition had a good, hard look at its scare campaign in terms of the transition that is going on in the Australian economy at the moment. I am talking about its endeavours to use workers and their families— The SPEAKER: The minister will be directly relevant. Mr MARTIN FERGUSON: with respect to the transition that is occurring with Qantas, Alcoa and BHP. Mr Speaker, I thank you for the opportunity to address this matter. The government is hard at work in trying to assist the Australian economy to manage a major investment pipeline whilst looking after those sections of the economy that are challenged by the transition. I say to those opposite: front up to policy and real policy debates rather than having your heads in the sand.