Senator SHERRY (Tasmania—Minister Assisting on Deregulation and Public Sector Superannuation, Minister for Small Business and Minister Assisting the Minister for Tourism) (14:53): I should be the first to confess: this could be a little tricky because virtually an identical question was asked by Senator Brandis to Senator Wong. Senator Abetz: No, wind farms. Senator SHERRY: Virtually identical but with the wind farm addition. I want to make sure my answer in terms of UBS is consistent. On the issue of the UBS report—and I think this is consistent with Senator Wong's answer because I am looking at a similar briefing note—the vast majority of economists, the most respected economic organisations in Australia and the world, and the majority of the investment community agree that the price on carbon is the cheapest way of cutting carbon pollution. I do note that the fall in European carbon prices referred to in the UBS report has been due to the wider debt crisis in Europe and is unrelated to carbon markets. I could talk extensively about the European debt crisis and the impact on carbon marketing but I am not going to because I want to get to the issue of the wind farms. It is not correct to assert that the European Union's emission trading scheme has had no impact. Opposition senators interjecting— The PRESIDENT: Order! Senator SHERRY: I think my answer is totally consistent with Senator Wong's. The PRESIDENT: Senator Sherry, ignore the interjections; address the chair. Senator SHERRY: I do not know what the opposition is so fussed about. I am trying to answer. To get to the issue of wind farms: the Australian government does believe that wind farms have an important role to play in achieving the government's target of 20 per cent energy renewal by 2020. I believe that renewable energy target is broadly supported by all political parties in this country. (Time expired)