I refer the Treasurer to his interview on The 7.30 Report on budget night where he refused to answer a question on past Treasury advice on carbon trading. Can the Treasurer confirm that the government rejected a 2003 cabinet submission on emissions trading? Is this why Dr Henry, the Secretary to the Department of the Treasury, said he wished he had been listened to more attentively on climate change? Does the Treasurer believe the last four years is an unacceptable delay or an acceptable delay?