RACEGOERS and fashionistas can rest assured the carbon tax will have a minimal impact on Melbourne's spring racing carnival, Climate Minister Greg Combet says.
Mr Combet said he wanted to reassure racing fans there was no cause for alarm in the lead-up to next Tuesday's Melbourne Cup.
"Carbon pricing will not stop the Victoria Derby on Saturday and it will not stop the Melbourne Cup next Tuesday and the carnival is going to go well," he told parliament on Thursday.
"Treasury modelling showed the carbon price impact on sport and recreation will only be 0.3 per cent or 20 cents a week.
"Fashion at Flemington will be OK because last week's CPI (consumer price index) figures showed women's clothing, actually the prices fell by 0.2 per cent in the September quarter."
Four months since the introduction of the carbon tax the economic picture was quite different to the nightmare predicted by Opposition Leader Tony Abbott, Mr Combet said.
"Quite frankly the Liberal party stewards should intervene and look at changing the leadership," the minister quipped.
"What about the member for Wentworth (Malcolm Turnbull)?" Mr Combet said.
"A classy thoroughbred if ever there's been one."
Mr Combet went on to call the Liberal leadership race and form, including Joe Hockey who was hungry for a win but not up to group one racing after being ejected from the chamber earlier.
He said deputy opposition leader Julie Bishop might stand a chance after three times being runner-up, with Scott Morrison "a promising weight for ager" and Bronwyn Bishop a 1994 favourite.
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