Senator WONG (South Australia—Minister for Finance and Deregulation) (14:14): I thank Senator Brandis for the question. It does give me the opportunity to correct something I said yesterday in question time— Senator Abetz interjecting— Senator WONG: You will enjoy this, Senator Abetz. I provided two quotes to the chamber, both of which I said— Senator Brandis: Mr President, I rise on a point of order. Senator Conroy interjecting— Senator Wong interjecting— The PRESIDENT: Senator Conroy and Senator Wong! I am waiting to give Senator Brandis the call. Senator Brandis: Mr President, on a point of order: I think I have a reasonably clear idea of what Senator Wong proposes to say and, may I say, I welcome her correction at the appropriate time. But it is not a proper use of the short period of time allowed for her to answer a question to use that time to correct the record from yesterday's Hansard. There is another time allowed for that in the proceedings. I want to know about the effect on the capital value of assets. Senator Conroy: Mr President, on the point of order: I have never yet seen a point of order taken on something someone might say. I have always appreciated that George can see into the future. Senator Brandis has enormous forward vision, but to actually take a point of order on something that somebody might say is a little unusual. Perhaps he might want to be ruled out of order, Mr President. The PRESIDENT: The opening statement by the minister was that the minister was going to correct the record from a question that was asked yesterday. The appropriate time to do that is at the end of question time, and always has been. Senator Conroy interjecting— The PRESIDENT: I am not going to get into an argument; I am just telling you what the practice and the procedure in this place have been for a long period of time. The minister has one minute and 41 seconds remaining to address the question that was asked by Senator Brandis. I invite the minister to answer the question. Senator WONG: Thank you, Mr President. I am surprised that Senator Brandis is so reluctant to own up to the fact that the quote I referred to was actually from him. The quote I referred to advocating for petrol to be in an emissions trading scheme was in fact from Senator Brandis. Senator Brandis: Mr President, I rise on a point of order. The minister is openly defying your ruling. You have just said that the time to correct the record is after question time and that the minister must come to the question. The question had nothing to do with petrol; the question had to do with the effect on asset values of the carbon tax. You should direct the minister to answer the question. If she continues to defy the ruling, she should be directed to resume her seat. The PRESIDENT: As I have said before, I cannot direct the minister how to answer the question. I did draw to the minister's attention— Senator Conroy interjecting— The PRESIDENT: Senator Conroy! I did draw to the minister's attention the fact that there was one minute and 41 seconds remaining at that time to address the question that had been asked. There is now one minute and 20 seconds. I invite the minister to answer the question. Senator WONG: I was asked, I think almost hypothetically, about assets in unnamed industries— Senator Brandis: You were asked about industries affected by the carbon tax. Senator Conroy: Would you like to add that to your question and amend it along the way? The PRESIDENT: Interjections do not help question time on either side. Continue, Senator Wong. Senator WONG: First, I do not believe any particular industry was indentified—which, in any event, would make the question difficult to respond to. In the context of the CPRS, the government obviously did look at the value of assets in the electricity sector. The senator would be very aware of the policy the government put previously before this parliament, which looked at the energy sector and the argument about the loss of asset value, which was part of the energy security assistance scheme that was included in the CPRS. In relation to the package to be announced on Sunday, as I have previously said, details on these matters will be announced on Sunday, and I am sure the senator will have the opportunity to consider those aspects which are relevant to his question.