Senator WONG (South Australia—Minister for Finance and Deregulation) (14:51): I am acutely aware of the risks, particularly in the global economy, and I spoke about some of those yesterday. If the senator with an interest in this matter has taken the time to read the various IMF documents which have come out in the last couple of days, he would see that one of the things that is spoken of consistently by the IMF is the importance of a sound and transparent fiscal strategy. I would have hoped that the senator who was once in this portfolio in the opposition would care about the fact that his colleagues have no fiscal strategy, have a $70 billion black hole, went to the last election refusing to disclose to the Australian people what their policies cost— Senator Abetz: Nonsense! Repeating falsehoods doesn't make them true. Senator WONG: I will take that interjection. The PRESIDENT: Senator Wong, ignore interjections; they are disorderly. Senator WONG: I am accused of saying things which are untrue. Interestingly, Treasury and Finance found an $11 billion black hole in your election policy costings. That is not Senator Wong saying this; that is the institutions of the Treasury and the department of finance. Senator Joyce: Mr President— Honourable senators interjecting— The PRESIDENT: Senator Joyce, as is the practice, I will give you the call when there is silence. Senator Joyce: Mr President, a point of order on relevance: the question was whether there are any economic circumstances under which the government would reconsider its commitment to introduce a carbon tax. I do know whether she is about to say yes or no, or what she is actually saying. The PRESIDENT: There is no point of order. Senator Wong, you have 51 seconds remaining to answer the question. Senator WONG: I am making the point: if the senator cares so much about the fragility of the global economy, and how we ensure we respond to it, he would actually care about whether or not those opposite could cost their policies, because so far under this economic team the opposition have not once been able to cost their policies. They have not yet once got their numbers right—and numbers that matter. What they have is a $70 billion black hole. Senator Joyce: Mr President, on a point of order which once more is on relevance: are we to take it that her discussions on the coalition's position mean that she would consider her commitment to introduce a carbon tax by 1 July next year or that she would not consider the introduction of a carbon tax? Which one is it to be? The PRESIDENT: There is no point of order. The minister has 13 seconds remaining. Senator WONG: I am simply pointing out the hypocrisy of putting to the government that we should worry about the global economy when one is part of an opposition that has a $70 billion black hole at a time when we need certainty around fiscal policy—a $70 billion black hole. (Time expired) Senator Sherry interjecting— Senator Cormann interjecting— The PRESIDENT: To those two senators who seem very anxious to debate the issue: there is five minutes to go and then you can debate it.