That this bill be now read a second time.

That all words after “That” be omitted with a view to substituting the following words:—“the House defer consideration of the bill until the following have occurred:

(1)   the Copenhagen Climate Change Summit at the end of this year has concluded;

(2)   the Barack Obama administration in the United States has clarified its intentions in this area;

(3)   the Government has referred its Carbon Pollution Reduction Scheme (CPRS) to the Productivity Commission so that it may conduct a six-month review to:

(a)   assess the national, regional and industry sectoral impact of the CPRS in light of the global financial crisis;

(b)   assess the economic impact of the CPRS in light of other countries either not imposing a price on carbon comparable to that proposed for Australia or imposing such a price after different assumed periods of delay; and

(c)   conceptually and empirically examine the relative costs and benefits (including emissions reductions) of the key alternative scheme designs against the CPRS; and

(4)   the Productivity Commission’s reports on these topics have been publicly released.”