Mr NEUMANN (2:18 PM) —My question is to the Treasurer. Will the Treasurer outline for the House the reasons it is in Australia’s national economic interest for us to tackle climate change?

Mr SWAN (Treasurer) —I thank the member for his question. As the Prime Minister was saying earlier, the costs of inaction on climate change are far greater than the costs of action. The previous government put this problem in the too-hard basket. Now they cannot even answer the simple question as to whether they will ratify Kyoto. What is the answer?

Opposition members interjecting—

The SPEAKER —Order! The Treasurer will resume his seat; the House will come to order! I think that the asking of questions across the chamber leads to this uproar. It does not justify the uproar, but it would assist if ministers desisted from that tactic.

Mr SWAN —Addressing climate change is a long-term growth strategy. It is very important that we put in place the policy settings to address climate change. From an economic perspective, climate change is a market failure. Emitters do not bear the full cost of their emissions, so we need a range of policies to reduce emissions. That is why the Treasury is engaging in climate change modelling. That is why there is independent academic analysis out there at the moment from Mr Garnaut. That is why there is other analysis here and abroad. Treasury’s climate change modelling is expected to be completed by mid-June and will be informed by a range of international and domestic experts. Finally this country has a government that is determined to address climate change.

Mr Pearce —Mr Speaker, could I ask the Treasurer to please table the document from which he was reading.

The SPEAKER —Was the Treasurer reading from a document?

Mr Swan —Yes, I was.

The SPEAKER —Is the document confidential?

Mr Swan —Yes, it is.