It's always a little dangerous getting into things that haven't happened and things that could happen, but in general, if there is a tax change—if the carbon tax were to be eliminated—that would have a one-off drop on the price level. Inflation would drop for one year, and then after that it would go back to where it otherwise would have been.
You know, monetary policy needs to be forward-looking. We know that this a very temporary mechanical effect, so we would tend to look through that. If you want a good example historically, in 1994 the government cut the tax on cigarettes in half. There was a big smuggling problem and they needed to equalize it at the border. That had a big effect on inflation. Inflation was roughly 2% ahead of the tax cut. It went to 0% for a year, and then a year later it went right back up to 2%.
Now, from a monetary policy respect, once the tax cut is announced, you can see the impact on inflation. We know that a year later that will fall out, so effectively we look through that.