My question is to the Treasurer. I refer the Treasurer to concerns in financial markets about the risk of a sovereign debt default in Europe, the weak growth outcomes recorded in the United States, Japan and many European countries, and the IMF's downgrade of the growth forecast for Europe and the United States stating that:

The global economy is in a dangerous new phase.

I ask the Treasurer: isn't this the worst possible time to introduce the world's biggest carbon tax, which will slow economic growth in Australia, increase inflation in Australia and cost Australian jobs?