QUESTIONS WITHOUT NOTICE

Mr TED O'BRIEN (Fairfax—Deputy Leader of the Opposition) (14:52): My question goes to the Treasurer. I refer to confirmation by Treasury officials today that the government is planning an economy-wide marginal abatement incentive. That is a carbon tax of around $300 a tonne.

That is over 10 times more expensive than the carbon tax Julie Gillard introduced and the Australian people rejected. Will the Treasurer explain to the House the impact Labor's new carbon tax will have on the Australian economy?