Senator WONG (South Australia—Minister for Finance and Deregulation) (14:14): There are a great many things which affect the mining sector and primary amongst those are the prices paid by the world for commodities. We have seen very high prices for the commodities Australia exports. That has obviously been a good thing for this nation but, as this government has made clear, the peak of the commodities price boom has passed, which is why we are doing two things. The first, in a budgetary context, is to ensure that the budget reflects the stepping down of the terms of trade, which it does. The second is to ensure that you plan for beyond the boom and that you invest the boom proceeds wisely, recognising that you have to plan for beyond it. For this reason, as you know, the government has a range of investments in place. Some of those have been in the tax reform space and include, for example, the company tax cut that Senator Cormann opposed but also things like the loss carry back regime, which will assist small business in particular, as well as the instant asset write-off. Senator Cormann: Mr President, a point of order in relation to the requirement for the minister to be directly relevant: there was a very specific question as to whether the minister agreed or disagreed that the carbon tax would lead to significant declines in rates of return. In order to assist the minister to be directly relevant, she might want to refer to page 152 of the government's own Treasury modelling of the carbon tax, where that exact point is made. The PRESIDENT: That is debating the issue. There is no point of order at this stage. The minister has 51 seconds remaining in which to answer the question. Senator WONG: In terms of the point of order, I think that Senator Cormann is now saying that we should rely on the Treasury modelling. Is that right? This is the same Treasury modelling that he has been saying for months and months we should not rely on. Now he is saying we should rely on it. It is a little bit like his position on the mining tax, which he says, on the one hand, will not raise any money, but, on the other hand, will kill investment. Senator Brandis: Mr President, on a point of order: you chastised Senator Cormann for debating the issue in his point of order, but the minister is now debating the question. A statement was put to her. Senator Cormann helpfully provided the source of the statement. She is merely being asked whether she agrees or disagrees with that statement. You should bring her to the question in the time remaining. The PRESIDENT: There is no point of order. The minister has 26 seconds remaining in which to answer the question. Senator WONG: Again, I would say that one of the primary drivers of investment in the resources sector in this country is what is occurring in global markets. If policy issues such as the mining tax or the price on carbon have the effect that the opposition says, one wonders why it is we have continued to see climbing investment in the resources sector in this country since they were announced. (Time expired)