Senator LUDWIG (Queensland—Minister for Agriculture, Fisheries and Forestry and Minister Assisting on Queensland Floods Recovery) (14:48): Those opposite seem to be pursuing a path of reregulation, a path of stifling commercial opportunity and stifling change. The EU ETS is the largest and most liquid carbon market in the world, and those opposite know that. The Australian government's longstanding policy is that international linking is in our national interest because it will help us to reduce emissions at the lowest cost. The government has secured agreement, as this chamber has been advised, with the European Commission that from 1 July 2015 Australia's emissions trading scheme will be linked with the EU ETS. That means from 1 July 2015, Australia's carbon price will reflect that of our second-largest trading bloc and be consistent with 30 other countries. Senator Birmingham: Mr President, I rise on a point of order going to relevance. There was only one question that was asked, and that was whether in fact the linking to Europe—and the minister may be talking about the linking to Europe, but we acknowledge that is happening; that is not under question—will result in the purchase of more international carbon credits. Yes or no, will it? The PRESIDENT: There is no point of order. The minister was addressing the question. Senator LUDWIG: I do reject the premise of the question that was put forward. What those opposite fail to appreciate is the EU linking— (Time expired)