The most effective check and balance on government has been an independent press which maintains its credibility by ensuring that its criticism is balanced and based on fact – based indeed on solid journalistic work.

But who knows, some years from now if there's a global emissions trading scheme agreement, as many have hoped for, then I'm sure Australia would be part of it.

Mitt Romney speaking to a $50,000-a-plate Republican fundraiser says he doesn't have to worry about the 47 per cent of Americans who don't pay tax. He was not counting on the smart phone recording his speech and then posting it on YouTube.

In economics, one of the most important concepts is 'opportunity cost' - the idea that once you spend your money on something, you can't spend it again on something else.

I am an ambitious person, but I am not ambitious in the sense that I want jobs only for the sake of them... I am here to do things I think are worthwhile. I am always careful that the political positions I take are consistent with good policy. I would not want to be prime minister of Australia at any price.

China and India will take the global leadership on climate change: they are suffering for it.

Everything we do as a government is focused on getting help and support for hard-working Australian families. We are standing up for them.