With the origin of COVID now known to be the result of gain-of-function research, funded by the United States through Anthony Fauci’s NIH and conducted in Wuhan China to escape regulatory barriers, it’s even more important that Australians have input into the Terms of Reference for a COVID Royal Commission.
If any member of the public, medical profession, whistle-blower or other interested party wishes to make a submission I urge them to have their say to the committee via this link:
With Moderna setting up mRNA vaccine production in Australia, it is concerning that both the Morrison and Albanese governments have provided 16 vaccine indemnities since the COVID outbreak. That means the bill to compensate those who are harmed by these products falls on taxpayers, not the pharmaceutical industry that rolled out their products with indecent speed.
There are 400 new mRNA vaccines under development to replace the off-patent conventional vaccines. Responsibility for harm from these products must rest with the makers, not the public.
The emerging pattern of adverse events and deaths correlating with the COVID injections is overwhelming. It must be objectively examined and not simply dismissed. There is no reason why these COVID injections should not be given proper scrutiny in the same way we scrutinize health effects from lockdowns, economic hardship, inadequate healthcare provision or even inappropriate treatments for the virus. Is there? What is in the Pfizer contracts that we should know about?
Transcript
As a servant to the many and varied people who make up our one Queensland community, I would like to update my constituents on the committee inquiry One Nation secured looking into terms of reference for a royal commission into SARS COVID-19. The committee has set 12 January 2024 as the deadline for submissions. If any member of the public, medical profession, commercial entity or interested party wishes to, they can make a submission. It can be confidential if you want. I’ll post a link on my social media and on my website, and I urge whistleblowers, senior medical practitioners and academics to have their say. I’ve received many suggestions for terms of reference and, firstly, can I say: please tell the committee. That’s the process.
Let me talk about the terms of reference. Firstly, the origin of COVID. An article in today’s Australian by Sharri Markson sets out proof—and I do mean proof—that COVID was engineered as a result of gain-of-function research funded through America’s National Institutes of Health and its former director Anthony Fauci. The research was conducted in China because it was out of reach of America’s regulations, and it was cheaper. Gain-of-function research is supposedly so that health authorities can create new viruses and then an antidote or a vaccine so that if nature supposedly produces that virus, there will be a vaccine ready to go.
Secondly, vaccine indemnity. I spoke this week about a little-known fact: Australia has provided 16 vaccine indemnities in recent years. Now, an indemnity doesn’t prevent a person who has been harmed from suing, it just means any damages are paid with taxpayer money and not big pharma money. Pharmaceutical companies keep the profits and taxpayers pay for the damages. Even more troubling, the Albanese Labor government has provided Moderna with a blanket immunity for every vaccine they make in the new Australian factory. There are 400 mRNA vaccines under development. Not all will be made in this plant, yet many will be. The Morrison and Albanese governments are normalising vaccine indemnity. I want to know why. The terms of our contract with Pfizer must be examined, as we were still signing hidden purchase contracts as recently as last month.
Surely this pattern of adverse events and deaths tracking injections upward and downward proves causation of vaccine deaths by their tens of thousands. The science is now overwhelming. This can’t be ignored and must be investigated. (Time expired)
https://img.youtube.com/vi/61L0fu6Dbes/maxresdefault.jpg7201280Senator Malcolm Robertshttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSenator Malcolm Roberts2023-12-06 10:46:222023-12-06 14:06:31Make Your Voice Heard on the COVID Royal Commission Terms of Reference
Labor is gagging the senate and forcing a vote on bills without debate.
These are bills relating to legislation of great significance, which will impact the lives of everyday Australians.
The Senate’s role is to ensure legislation has proper scrutiny. This is 1000s of pages of legislation, including the Identity Verification Services Bill which is a defacto digital identity. This is a shocking decision.
Each of these bills would normally require a day’s scrutiny, debate and potential amendments before passing. This Labor government, which promised Australians transparency and accountability, is strong-arming the bills through the senate.
What deals have been done to make this happen? And with whom?
https://i0.wp.com/www.malcolmrobertsqld.com.au/wp-content/uploads/2023/12/Pg1-Guillotining.jpg?fit=714%2C984&ssl=1984714Senator Malcolm Robertshttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSenator Malcolm Roberts2023-12-05 12:43:552023-12-05 12:43:58Obscene Rush to Push Bills Through the Senate!
Tues 5-Dec-2023 | This was voted down by Labor, Liberal-Nationals, the Greens & the Lambie Network.
What have these parties got to hide that they DO NOT WANT an agency that decides billions of dollars in government projects to divulge conflicts of interest?
Parliamentarians no longer serve the needs of the people. There are some changes I’ve noticed in the behaviour of the ministers and bureaucrats.
These were brought home to me in the most recent senate estimates. Truth will always win in the long run, and public servants would do well to remember that fact.
Transcript
As a servant to the many different people who make up our one Queensland community, in my criticism of this and previous governments I often use the word ‘accountability’. Here’s why. When I was young, my local member was my electorate’s representative in Canberra. Now my local member is Canberra’s representative in my electorate. Parliamentarians don’t work now for the people; the people work for parliament. In Canberra, decisions are taken in the best interests of the predatory billionaires who are behind every curtain and pulling every string.
This fundamental change in the nature of parliament was brought home in the most recent Senate estimates. When asking questions on behalf of my constituents, the default position of those opposite was not to answer the question. Public Service speak has devolved into word soup, with no meaning, no accountability and often no truth. I have never seen more obsequious answers from public servants in my life. I’ve never seen ministers more interested in preventing truth from coming out instead of providing truthful oversight, and I have never seen committee chairs dedicating their sessions to supressing truth.
Senate estimates is a parody of governance—a parody which sounds something like this: ‘Senator: “Minister, the witness is stalling. Please instruct the witness to answer the question.” Minister: “Why would I do that?” Senator: “Because it’s your job to be transparent and truthful to the public.” Minister: “No, Senator, it’s my job to cover up the mistakes of the last government so they will in turn cover up mine.” Committee chair: “Senator, your time is up.”‘ What a farce! What a disgusting display I saw two weeks ago. Shameful. Everyday Australians are facing a huge challenge from insane immigration population growth, cost-of-living pressures and unaffordable mortgages, and this government thinks the answer is to cover up, deflect and lie. Have you forgotten that in the end truth always comes out?
https://img.youtube.com/vi/dLj72A_OqXg/maxresdefault.jpg7201280Senator Malcolm Robertshttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSenator Malcolm Roberts2023-11-24 13:15:102023-11-24 13:15:12A Government Accountable to Nobody is Trusted by None
I asked the National Indigenous Australians Agency (NIAA) about their audits in relation to fraud and found out how their work on a report of recommendations was progressing. A broader chat followed about releasing aboriginal communities from the aboriginal industry comprising white and black activists, consultants, lawyers, bureaucrats, academics and politicians.
What the main remote communities need is autonomy. Allocating funds directly to aboriginal communities will cut out the middlemen and women. Jobs, health and housing.
I listened to Miss Broun talk about the role of the NIAA. Briefly, the NIAA’s purpose is to lead Commonwealth activities, inform whole of government priorities, coordinate indigenous portfolio agencies, enable policies, programmes and services and advance a whole of government approach to improving lives of Aboriginal and Torres Strait Islander peoples. What was the purpose of the ‘Voice to Parliament’ when the NIAA has such a broad role and funding?
The administration of the aboriginal industry does need to look hard at whether all these strategies, consultants, reports, and micromanagement are getting in the way of progress.
Transcript
Senator ROBERTS: Thank you for being here today. I’ve got two sets of questions. There are some short ones to get out of the way, and then I’d like to have a discussion through some questions about behaviour change. I’ll get to the mundane questions, although they’re still important. What money was spent by your agency or given to others on promoting the ‘yes’ case for the recent referendum?
Ms Guivarra: None.
Senator ROBERTS: Thank you. I like concise answers. What money has been spent by this agency in relation to any proposed treaty?
Ms Guivarra: We were allocated funding for work associated with the makarrata commission. You will see from the budget papers that that was in the order of $5.8 million, from recollection. I’ll get Dr Gordon to confirm that, and he can give you a breakdown of how much of that has been spent. But, specifically on treaty, again, none has been spent. Our role, essentially, has been to seek information on the processes that states and territories are currently involved in. But I’ll get Dr Gordon to give you a more comprehensive response.
Dr Gordon: That’s correct, yes. No funding has gone towards a makarrata commission. Where the funding has gone in the agency, from that $5.8 million, is towards work on understanding treaty and truth-telling processes underway in states and territories and internationally. As of 30 September 2023, we’ve expended $607,000.66 on that.
Senator ROBERTS: What’s involved in spending that money to gain understanding of what the states and overseas people are doing?
Dr Gordon: It involves some desktop research but also bilateral meetings with states and territories, or multilateral meetings. There have been a considerable number of bilateral meetings over the last year; I think it’s around 25 between the agency and our colleagues in the state and territory agencies, as well as a few kind of broader ones.
Senator ROBERTS: Face to face?
Dr Gordon: It’s virtual, primarily.
Senator ROBERTS: But it’s real humans with real humans? Okay. So you’ve spent six hundred and something thousand dollars out of $5.8 million allocated. What are the prospects for the $5.2 million left? What are the plans, rather?
Dr Gordon: As Minister Burney has stated a number of times, including on 2 August, the government will be considering next steps following the referendum, and that’s a process that’ll happen from this point on. What happens now in relation to that is a matter for government, and that will be informed by engagement with Aboriginal and Torres Strait Islander peoples and also our ongoing work with the state and territory governments.
Senator ROBERTS: That goes to my next question. Minister Burney previously said, prior to the failed referendum, that $1 million had already been spent on the treaty. What is the full figure spent so far on all aspects of that—in the past as well? You’ve just told me zero currently. What is the full figure spent so far, and how much of it is proposed to continue to be spent, given that Prime Minister Albanese has backed away from the commitment to pursuing makarrata and truth-telling?
Dr Gordon: I’m not aware of that particular statement by the minister, but the figure that I just gave you is the amount that’s been spent on work looking at the treaty and truth-telling arrangements. And that process going forward for the remainder is what I just outlined as well.
Senator ROBERTS: A recent ANAO audit found inadequate safeguards and procedures in relation to identifying and dealing with financial risks, including fraud. What plans are being made in response to these deficiencies?
Mr Worth: The report outlined seven recommendations for improvement in relation to our broader risk and fraud compliance risk management. We have developed, in response to that, an implementation program, making a number of changes to address all the recommendations. We have accepted all of the recommendations. We have completed a number of actions through that, and we’re on track to have closed out all of those recommendations by the end of this financial year.
Senator ROBERTS: Can you list the recommendations, please—what areas? I want to get a feel for it. The reason for that is that the ANAO recently told me they can’t investigate corruption, which includes fraud. So I wanted to find out who can and does.
Mr Worth: The first recommendation was that the NIAA fully implement its risk management policy and framework, including by conducting assessments of enterprise risk, undertaking risk assessments when developing business plans and policies, and undertaking specific activities. The second recommendation was the NIAA conduct fraud risk assessments regularly and develop and implement a fraud control plan. The third recommendation was that the NIAA ensure that advisory committee actions are in line with their terms of reference and that the annual report of ARC, the audit risk committee, to the accountable authority clearly highlights any deficiencies in the risk management and control framework that have been identified. The fourth recommendation is that the NIAA fully implement program and subprogram fraud risk assessments, organisational risk profiles and activity risk assessments, and monitor and fraud risk assessments. The fifth recommendation was that the NIAA implement proactive mechanisms for the detection of provider fraud and noncompliance. The six recommendation was that the NIAA ensure that it maintains a record of referrals, the basis of referral assessment and decision-making against transparent criteria, and makes decisions on whether to proceed with fraud investigations in line with the organisational risk appetite. The final recommendation was that the NIAA monitor and report on resources, time frames and outcomes of compliance reviews and fraud investigations.
Those recommendations were made off the back of the assessments made by the NIAA regarding the effectiveness of the control systems and processes that were in place. So it’s not that things weren’t in place; we did have processes, frameworks and so on. But the conclusion, through the audit processes, was that they were partly effective and not as complete as they needed to be—hence those recommendations. I think it’s worth noting that the audit report itself was issued in May 2023, but a program of improvement had already been well underway and indeed was already underway when the audit team arrived and were doing their work. Work has been progressing, as I said, and is due for completion, to address all of those recommendations, by the end of this financial year.
Senator ROBERTS: Who can and does investigate corruption? ANAO told me they don’t.
Senator Gallagher: The National Anti-Corruption Commission.
Senator ROBERTS: Yes, it does now.
Senator Gallagher: Well, it does.
Senator ROBERTS: No, no—I’m agreeing with you, but is there any federal government agency that has a purview on that? And I notice that NIAA did a lot of this off its own bat. I’m not trying to single NIAA out.
Mr Worth: As with many granting agencies within the Commonwealth, NIAA has processes in place to proactively identify issues of noncompliance, fraud and corruption as well as a responsive mechanism whereby complaints or reports that are received by us are taken on board and investigated. As part of that process, we make an assessment of the accusation or concern and then respond accordingly. In some circumstances, from 1 July, it might be referred to the NACC, the National Anti-Corruption Commission. In other circumstances, depending on the nature of it, it might be referred internally for further fraud investigation and then, depending on how that investigation goes, it could be referred to the authorities for prosecution, or it could be subject to an ongoing Australian Federal Police investigation, for example, or state police forces. For matters of noncompliance it could be referred internally.
Senator ROBERTS: Ms Broun, could you tell me the main purpose of the National Indigenous Australians Agency please. What’s the main role? What do you hope to achieve?
Ms Broun: It’s in the annual report. It’s in our executive order, obviously, and that’s on page 9 of the annual report, if you’ve got it there. I’ll read from the annual report:
To lead and coordinate Commonwealth policy development, program design and implementation and service delivery …
To provide advice to the Prime Minister and the Minister …
To lead and coordinate … Closing the Gap … in partnership with Indigenous Australians;
To lead Commonwealth activities to promote reconciliation;
To build and maintain effective partnerships with Aboriginal and Torres Strait Islander people(s), state and territory governments and other relevant stakeholders to inform whole-of-government priorities for Aboriginal and Torres Strait Islander people(s), and enable policies, programs and services to be tailored to the unique needs of communities;
To design, consult on and coordinate the delivery of community development employment projects;
To analyse and monitor the effectiveness of programs and services for Aboriginal and Torres Strait Islander people(s), including programs and services delivered by bodies other than the NIAA;
To coordinate Indigenous portfolio agencies and advance a whole-of-government approach to improving the lives of Aboriginal and Torres Strait Islander people(s); and
To undertake other tasks the Prime Minister and the Minister require from time to time.
That’s the executive order.
Senator ROBERTS: The next question, Minister, is directed to Ms Broun, but it’s an opinion, in some ways, so maybe you’ll have to answer it. What are the main ways of addressing community needs, and what are the main community needs that you see in remote communities? I’ve been to every Cape York community and some of the Torres Strait Islands, and I’ve been to a couple of the Northern Territory ones. It reminds me of when I was a mine manager. Before becoming a mine manager, I worked on the coalface as a miner. When I became a mine manager, I was sent to various mines to turn them around. I’d walk in—and I was told by the previous mine manager, ‘They’re lazy; they’re incompetent,’ et cetera. I gave them accountability and autonomy and they were wonderful people—the same lazy miners! What I see in Cape York communities is people hungry for autonomy, and ready for it, but they seem to be squashed by what I’ll call—and I’m not referring to you—the Aboriginal industry, which is white and black activists, consultants, lawyers, bureaucrats, academics and politicians. The real people are just missing out. That’s why it’s such a—
CHAIR: That’s what everyone says about us, too!
Senator ROBERTS: I think they’re right; I agree with you! Is there any thought to allocating the money directly to communities and getting rid of the Aboriginal industry that’s feeding off—
Ms Broun: Thanks for that question—which is very broad ranging.
Senator ROBERTS: It is. I just want to start the discussion.
Ms Broun: The closing the gap national agreement identifies a whole range of areas we need to do better on. The Productivity Commission draft review identifies that we need to accelerate that effort as well—so it identifies some of the gaps. The minister has also consistently looked at those priorities around jobs, housing, health and education. Jobs is a really critical element of this, and it goes to your statement as well. In terms of funding communities directly, the Indigenous Advancement Strategy has a range of ways that that happens currently—so different programs go to different providers. One of the ones I mentioned in my earlier statement was the Indigenous rangers programs, and the funding that that provides to community organisations directly. It’s about jobs and about connection to country and culture as well. It has lots of elements to it and it currently employs about 1,900 people, with a plan to double that by 2030. That goes to your point around jobs as well. If there is more to that that you’d like answers to, I can get the right people up in terms of housing and jobs.
Senator ROBERTS: I was told by a very bright young councillor at Badu Island—I asked, ‘How’s closing the gap going?’ He said: ‘Mate, it’s not going. Whatever happens to the Closing the Gap campaign, there will be a gap because people are feeding off the money. It’s not the community’s.’ That’s what he said, bluntly. In America they have charter schools—I’m just trying to make a parallel and see what you can come up with. Charter schools are where the money goes from the government directly to the community for their school. They have found that, instead of going from the government to the bureaucracy, the locals have responsibility and the charter school flourishes because the principal and the parents take responsibility. I’m wondering if there is a parallel that can happen with the Aboriginal communities. These are wonderful people, very bright and ready to go; they’re just held back by bureaucracy and the Aboriginal industry. Is there any thought to giving the people the opportunity to develop their own future? That’s a sure way to get accountability.
Mr Brahim: Throughout Australia, there are quite unique and complex circumstances.
Senator ROBERTS: It’s not easy.
Mr Brahim: In relation to the schools—and I know Education was here yesterday—across Australia there are—
Senator ROBERTS: No, I meant community things in general—giving more autonomy to the community, not just schools.
Mr Brahim: Using the charter schools as an example: the education department funds Aboriginal independent schools—so that goes straight to the schools. We fund a lot of community as well not necessarily through a provider, so the communities themselves—
Senator ROBERTS: When you say ‘we fund’—
Mr Brahim: The NIAA funds. There are different funding streams that go through different pathways. One pathway is through to the community organisations—so it’s not always through to a provider as such. Some communities are incorporated and will receive the funding directly from us.
Senator ROBERTS: I will finish up with this: I can remember, sometime around 2012-13, I was driving into Canberra listening to the radio, and they had allocated almost $1 billion back then—when a billion was a billion—and built 15 houses in 18 months. The people from the Northern Territory, the Aboriginal communities, were saying, ‘Give the money to us and let us build them.’ I think that was a fine idea, but instead the bureaucrats controlled it and got consultants, workers and contractors in from southern parts of Australia when the Aboriginals were hungry for jobs. It just didn’t make sense, and the outcome wasn’t there.
https://img.youtube.com/vi/d_qnx4CsEJg/maxresdefault.jpg7201280Senator Malcolm Robertshttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSenator Malcolm Roberts2023-11-01 15:07:282023-11-03 14:20:35What’s the Purpose of the NIAA?
Former Special Forces Commando Heston Russell repeatedly asked for a correction and an apology for stories the ABC published that defamed him and November platoon. The ABC accused them of committing war crimes in Afghanistan at a time when they weren’t even in that country.
Heston had to sue the ABC for defamation instead. The judge noted the ABC became defensive and considered any criticism as merely part of a culture-war attack. If they had responded properly, the taxpayers could have saved millions of dollars.
The response from the Minister shows a similar level of denial and lack of accountability, answering serious questions with cheap political taunts. What the government needs to remember here is that special forces commando, Heston Russell, was a victim of disinformation published by the ABC. It was an ordeal that he calls the ‘hardest battle he has ever fought’.
As the Government failed to answer, their Misinformation and Disinformation Bill WOULDN’T protect people like Heston Russell from fake news by the ABC as they’ll be excluded from the Bill.
Transcript
Senator ROBERTS: My question is to the Minister representing the Minister for Communications, Senator Watt. Former special forces commando Heston Russell repeatedly asked for a correction and an apology for stories the ABC published that defamed him and November Platoon, accusing them of committing war crimes in Afghanistan at a time when they weren’t even in that country. He offered to settle the case for $99,000, which the ABC refused, and proceeded to trial. The defamatory articles were brought to the attention of Minister Rowland, the Minister for Communications, by a 26,000-signature petition, which she acknowledged on 20 March and on which she failed to act. Minister, what is the cost to the taxpayer for the ABC’s legal fees in this matter so far?
Senator WATT (Minister for Agriculture, Fisheries and Forestry and Minister for Emergency Management): Thank you, Senator Roberts, for that question. I will have to take on notice the exact details of that question that you’ve asked. Presumably, these are matters that you’d also have the opportunity to ask the ABC at estimates next week. So I am happy to come back to you with any details that I can provide on that. The broader issue around any defamation action taken against the ABC is really a matter for ABC management. Of course, this government believes in the independence of the ABC and, in particular, its editorial independence.
Senator Rennick: You mean the bias.
Senator WATT: Senator Rennick, on the other hand, thinks that it’s a biased organisation. That’s a very disappointing remark to make about the national broadcaster but perhaps one that we’re used to after years of ABC cuts under the former government. It would appear that Senator Rennick isn’t the only member of the opposition who regards the ABC as biased. Again, it’s a very disappointing view to express about the national broadcaster—the only publicly funded broadcaster. Again, it probably indicates why the ABC suffered such severe funding cuts under the former government.
So, Senator Roberts, you’ll obviously have the opportunity to ask those questions of ABC management at estimates next week. I know Senator Henderson always has questions for the ABC as well, so she will no doubt do that again next week.
Senator Ruston interjecting—
Senator WATT: Sorry, Senator Ruston, we get to answer the questions, and I’ve already—
Honourable senators interjecting—
The PRESIDENT: Order, across the chamber! Minister Watt, please refer to me when you’re answering the question. Senator Henderson?
Senator Henderson: On indulgence—
The PRESIDENT: No, Senator Henderson. Resume your seat. Minister, please continue, or have you finished your answer?
Senator WATT: I actually answered the question in the first five seconds by saying that I’d take those details on notice. But I’m obviously able to then comment on the question more broadly, and that’s what I’ve spent one minute and 55 seconds doing.
The PRESIDENT: Senator Roberts, a first supplementary question?
Senator ROBERTS: The judge in this trial was scathing of the ABC journalists involved in the case, saying they became defensive and considered any criticism as merely part of a culture-war attack and this inhibited ‘a proper remedial response to criticism’. The ABC journalists thought they were part of a culture war, and that prevented them from acting impartially and reasonably, leading to a potential multimillion dollar bill to taxpayers. Minister, what consequences will the journalists involved face for eroding people’s trust in the ABC, and why hasn’t their employment already been terminated?
Senator WATT: Senator Roberts, I’m pleased to inform you that Australia now has a government that doesn’t have political interference in the ABC and so we have no intention of repeating the sort of intervention that we’ve seen—
Opposition senators interjecting—
Senator Canavan: Where’s the accountability?
The PRESIDENT: Order!
Senator WATT: from some of the people who are yelling across the chamber now in matters involving the ABC. These are matters that are the responsibility of ABC management, and we respect their independence. I understand, Senator Roberts, that the Federal Court has obviously handed down its decision in these defamation proceedings. There do remain several settlement matters before the court, so I probably shouldn’t be commenting any further on what might happen there. And, as I’ve said, the ABC is responsible for managing its legal matters, including defamation claims and litigation, just as any media proprietor, whether it be publicly funded or privately owned, is responsible for managing its legal matters, including when it’s sued for defamation. We believe that the ABC is a trusted source of news, information and entertainment for all Australians and we support it.
The PRESIDENT:Senator Roberts, a second supplementary question?
Senator ROBERTS: Minister, Heston Russell was a victim of disinformation published by the ABC in an ordeal that he has called the ‘hardest battle he has ever fought’. Can you please confirm that Minister Rowland’s misinformation and disinformation bill would not cover the ABC and won’t protect people like Heston Russell from government disinformation?
Senator WATT: Senator Roberts, I’m very pleased that you’ve taken an interest in matters involving misinformation and disinformation. I welcome your sudden interest in misinformation and disinformation, and I hope that that’s something that you will retain an interest in when it comes to election campaigns that you’re involved in, Senator Roberts. I really do hope that you do that. We’d like to hear more about that.
Senator Canavan: Mediscare was a great example!
Senator WATT: And, Senator Canavan—he’s a big fan of misinformation and disinformation as well, so I look forward to Senator Canavan supporting us in tackling misinformation and disinformation.
Senator Rennick: Where’s this greenhouse that you keep talking about? Talk about disinformation—
Senator WATT: Oh, and Senator Rennick. We’ve got everyone! We’ve got all of the kings of misinformation and disinformation up commenting today!
Senator Rennick interjecting—
Senator WATT: Hello, Gerard; how are you? Of course, the government does have legislation before the parliament to deal with misinformation and disinformation. We think that it is an important issue in today’s media environment, particularly in the social media environment that we’re operating under, and we think that it’s an important piece of legislation to deal with.
https://img.youtube.com/vi/6Ih7dkYD63M/maxresdefault.jpg7201280Senator Malcolm Robertshttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSenator Malcolm Roberts2023-10-20 15:07:072023-10-20 15:07:52Multi-Million Dollar Defamation Bill Due to ABC Arrogance
The return of Cheng Lei is good news and I can only imagine how relieved her family must be. My intention here was not to discuss Cheng Lei’s release but to highlight the misinformation from Labor around this story, and how this relates to the ACMA Combatting Misinformation and Disinformation Bill the government is aiming to implement.
Penny Wong, as Foreign Affairs Minister, last week took credit for the release of Australian journalist, Cheng Lei. That may be misinformation. According to a Chinese government post, Cheng Lei was released after serving her sentence in China for publishing information under an embargo. In other words, she completed her sentence and was sent home.
Prime Minister Anthony Albanese said it himself: Cheng’s return was not part of a deal struck with Beijing and her release followed the completion of China’s judicial process. It couldn’t be more clear.
Yet the Labor government is passing off Cheng Lei’s release as a Labor government achievement with Penny Wong taking credit herself. The PM even advised his caucus in the aftermath of his failed $450 million Voice referendum to “focus on achievements” and placed the release of Cheng Lei at the top of the list.
Why did I feel this was important to point out in the senate and on the record? It’s an example of misinformation from a government that is about to censor everyone except itself and the accredited media. To a bureaucracy with a censorship hammer, every bit of unapproved information looks like a nail.
I think most of us agree after the past few years that if we are to combat misinformation and disinformation then the government and its media mouthpiece would be the best place to start.
Transcript
Senator ROBERTS: My question is to the Minister for Foreign Affairs, Senator Wong. It’s based on a constituent’s inquiry. Australian journalist Cheng Lei was convicted in China of illegally providing state secrets to overseas parties and imprisoned. Cheng Lei was recently released and arrived back in Australia last week. Minister, can you inform the Senate what role you had personally, your department had and the Prime Minister had in the release of Cheng Lei?
Senator WONG (Minister for Foreign Affairs and Leader of the Government in the Senate): I thank the senator for his question. Obviously, as you would expect, this is an issue on which there has been a lot of discussion at various levels with the Chinese authorities, urging the return of Ms Cheng and urging her to be able to return to Australia. I can indicate to you—and obviously some of this is at officer level—that, as I said publicly at the time, this was my first engagement with the then foreign minister Wang Yi, when I first met him at the first bilateral discussion in Bali. It is the practice of Australian governments to ensure that we raise consular cases with other countries, China included, at all appropriate meetings.
I can indicate to the senator that Ms Cheng Lei was the subject of representations from me, the Prime Minister and officers, just as with other consular cases such as Dr Yang’s and with those obviously facing criminal charges. We made those representations at the Prime Minister level, at the foreign minister level and at officer level, and we will continue to do so. I would acknowledge also that this has been the practice under successive governments. I spoke to former senator Payne after I had met Ms Cheng Lei at the airport to let her know before the news became public. I acknowledge that she also raised this with the Chinese authorities— (Time expired)
The President: Senator Roberts, first supplementary?
Senator ROBERTS: The Chinese ministry of state has posted on Weibo that Cheng Lei had been sentenced to two years and 11 months in prison and had been deported after completing her sentence. Minister, your words on Cheng Lei’s arrival at the airport, as quoted in the Guardian, made it clear that the government was taking credit for her release. They quoted you as saying: I made them a promise some time ago we would do everything, I would do everything I could, to bring her home …Minister, who is telling the truth—you or the Chinese government?
Senator WONG: Senator, you and I have differences of opinion, but I regret that you would use something I said about what I said to her children in that way.
An opposition senator: Seriously?
Senator WONG: No—not ‘seriously’. It was an expression of hope, emotion and a degree of humanity, because, like all Australians, I wanted to see a mother return to her children. That was also what I said publicly. The Chinese legal system has been completed. We have seen what they have said—that is, the articulation of the Chinese legal position. What I can say is that we made a priority to make representations— (Time expired)
The President: Senator Roberts, second supplementary?
Senator ROBERTS: Minister, is this a case that proves the Albanese government’s misinformation and disinformation bill should not exclude ‘government misinformation and disinformation’ and instead should include ‘government misinformation and disinformation’?
The President: Senator Roberts, I’m not sure how it relates, but I’m sure the minister will respond as she sees fit.
Senator WONG: Senator Roberts, there is no misinformation on our side. There is no disinformation on our side. What we have said—and if you had actually tracked every engagement I have had with the Chinese authorities, what I have said afterwards when I have articulated, at least in summary version, what I said to the Chinese authorities and what the Prime Minister said to his counterparts—you would know that we have made these representations. All I can say is this: this is not a partisan issue, and this is not a political issue. This is an issue about an Australian who is now home with her children. Behind her were many Australians across this country and across the political divide who made the same representations to Chinese authorities at all levels that Australians wanted to see a mother united with her children. I think that is a good thing. It was a great privilege to have the opportunity— (Time expired)
Transcript
Senator ROBERTS: I move:
That the Senate take note of the answer given by the Minister for Foreign Affairs (Senator Wong) to a question without notice asked by Senator Roberts today relating to the reporting of the release of Chinese Australian citizen Cheng Lei.
The Chinese government announced that Cheng Lei’s release was simply a matter of her completing a sentence of two years and 11 months. In her explanation though the minister claimed an emotional high ground that is not supported by events at the airport. Minister Wong was most welcome to make remarks to Cheng Lei’s children in private, and she did so. The minister then restated and expanded her remarks to the press, which were widely reported. Further, at that press conference the minister stated that the release of Cheng Lei was a result of Senator Wong’s perseverance, which the minister did not restate in her answer to me. Did her representations have any effect on the Chinese government? Not according to the Chinese government. Who is right? We may never know.
One Nation is concerned about the Albanese government’s misinformation and disinformation bill as applied to this situation. As drafted, the government and mainstream media are exempt from the bill. The Guardian‘s slobbering all over Minister Wong and the Albanese government over Cheng Lei would be exempt from this bill. The government can say whatever it likes and the mouthpiece media can repeat and even embellish those claims and that would be legal. Bloggers and social media companies who question the narrative though would be guilty of misinformation and fined or shut down. Weibo, which announced the Chinese government’s side of the story, has an office in Sydney and would be regulated under that bill. There’s no provision in the bill for truth as a defence. There’s no definition of what is misinformation. If this bill is passed, democracy itself will be at risk from an unending one-sided glorification of the ruling party. Last weekend, Australians rejected this sort of propaganda in the referendum campaign. The government proceeds with a misinformation and disinformation bill at its peril, because the people will see through it, just like they saw through the lies in the ‘yes’ case. This is about censorship.
https://img.youtube.com/vi/80nU2QvkUDs/maxresdefault.jpg7201280Senator Malcolm Robertshttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSenator Malcolm Roberts2023-10-19 06:50:302023-10-19 09:36:45Return of Cheng Lei is NOT a Labor Government Achievement
The government is defying the senate and ignoring its orders for the production of documents. That is contempt and must be punished as such by the Senate.
In this speech I made it clear to the Coalition and to the Greens, if they are serious about orders for the production of documents, about the explanations for refusing, about transparency and accountability, and if they’re serious about being the House of Review, then bring on a motion of contempt or censure. We will support it.
I will be proposing an amendment to Standing Orders in relation to the production of documents. Senators should assess public immunity claims and be able to decide if they are genuine. That assessment can be done confidentially so that the public interest is still protected.
No more slaps on the wrist in response to the callous disregard for the orders of this Senate on behalf of the people the Senate represents. It’s time to enforce the will of the Senate on behalf of the people of Australia.
Transcript
Unfortunately, we are here again for yet another slap on the wrist. This government continues to defy the orders of the Senate. There is no other word for this behaviour. It is contempt. It’s time that the Senate started treating contempt with real punishments. Orders for the production of documents are a vital part of our democratic process. The Senate is constitutionally superior to every law or excuse that government might try to use to justify not handing over documents.
Right now, we’re stuck in an ineffective cycle. The Senate makes an order demanding that the government table documents. The government may have a different opinion, yet these orders are not optional. They’re Senate orders. The government defies the Senate anyway and refuses to hand over the documents. The Senate makes even more orders, rejecting the excuses from the government and affirming that the documents must be produced. The government yet again ignores the Senate’s orders. That, ladies and gentlemen, is called contempt. We must punish it as such. Instead the minister is hauled in here for 15 minutes to give more excuses, and everyone lines up to give them a slap on the wrist and call them a naughty boy or a naughty girl. At the end, the minister sits down pretty chuffed with themselves because they haven’t had to hand over any documents and haven’t suffered any real punishments.
I say to the coalition and to the Greens: if you are serious about orders for the production of documents, about the explanations, about transparency and accountability, about being the house of review and about serving the people, bring on a contempt motion against the minister. We don’t need a referral to the Privileges Committee to tell us whether it is contempt or not. The minister is now in direct defiance of multiple orders from the Senate. Bring on a motion of contempt or censure, and you will have our support.
I foreshadow that I will be introducing, before the end of this year, a confidential process to review documents where any public interest immunity is raised, such as these documents. Public interest immunities are raised on the basis that sensitive information should not be released to the public. Whenever the government makes that claim, it needs to be assessed. Senators should assess public interest immunity claims. That assessment can be done confidentially so that the public interest is still protected. I’ll say it again: that assessment by the senators can be done confidentially so that the public interest is still protected.
To this end, I will be proposing an amendment to standing orders in relation to orders for the production of documents. This would trigger a formal process whenever a minister wishes to raise a public interest immunity claim. This process would require the relevant minister to explicitly outline to the Senate the actual harm that they say would flow from releasing information to the public, who we are supposed to serve. The minister would then be required to confidentially produce the documents to a Senate committee, where the documents would be made available only to senators for confidential viewing purposes. The Senate chamber as a whole would be able to confidentially make an assessment of the public interest immunity claim and whether or not there is any merit to it. If the minister does not comply with the process, it will be very obvious that the public interest immunity claim is not genuine. The Senate can then be more confident in applying sanctions such as censure and contempt. This would be fair to everyone.
This government continues to show callous disregard for the orders of this Senate on behalf of the people we represent. It’s time the Senate punishes such behaviour appropriately. No more slaps on the wrist. Instead enforce the will of the Senate, acting on behalf of our constituents, the people of Australia.
I spoke in support of Senator Smith’s matter of urgency motion on airline competition in Australia to ensure transparency and scrutiny of the industry to protect consumers and promote healthy competition. It was once an iconic symbol that Australians could be proud of, but no more.
Qantas took and kept the Jobkeeper handouts during COVID then unfairly sacked ‘below the wing’ staff anyway. It outsourced the jobs to cut costs and as a result safety, despite the airline’s record profits.
That’s not all. The Australia Competition & Consumer Commission (ACCC) recently charged Qantas with selling flights that didn’t exist. Ghost flights. Qantas does it to hog the departure and arrival slots and restrict the competition that would bring down prices. Always it’s the passengers who suffer.
Qantas share registry is controlled by the same parasitic billionaires that are destroying our banking and other corporate sectors. BlackRock, Vanguard, State Street. There couldn’t be a clearer need for strong government and regulatory action to ensure honest competition and restore the calibre of Australia’s flying kangaroo.
Transcript
As a servant to the many different people who make up our one Queensland community, I support Senator Smith’s matter of urgency motion. The level of corporate cronyism and greed in Australia’s airline industry is out of control. COVID was used to change the public’s perception of what constitutes fair and reasonable behaviour in the airline industry. Fares are up, service is down and luggage is nowhere to be found. One survey found that Australian airlines managed to lose baggage 10 per cent of the time. Qantas international fares are up 20 per cent in two years. International market share has doubled, and profits have followed airfares up and now stand at $2.47 billion. Despite this, Qantas COVID cancellation credits expire on 30 December. Virgin COVID credits expire on the same date. Is it a mere coincidence?
The ACCC recently charged Qantas with taking bookings on flights that were already cancelled. There’s a reason for that. Our established airlines have a legacy allocation of airport landing and take-off gates. In order to restrict competition that may bring down prices, airlines schedule fake flights and sell tickets with no intention of operating that service. By informing customers at the last minute of the cancellation, despite knowing of the cancellation for days or weeks in advance, the airline does three things. Firstly, it keeps that slot out of the hands of a new competitor who may compete with them on price or service. Secondly, it allows airlines to squash passengers into flights that become very profitable. The domestic load in March 2023 was 85 per cent. Thirdly, passengers suffer. Everyday Australians miss connections and lose time away from loved ones. Travellers are left to reorganise holidays on the fly, usually costing them more and taking days off their holiday break.
The predatory billionaires that own Qantas shares are perfectly happy with this. Billionaires use investment funds like BlackRock, Vanguard and First State in order to turn Qantas or, more accurately, everyday Australians, into cash cows. As long as they can use restrictive trade practices, like nobbling competitors, as they did with the recent Qatar airlines decision, and as long as they can get away with hogging landing and departure slots, their dividends will grow.
From where do these excess profits come? Everyday Australians of course. Taxpayers contribute yet more. Qantas took $900 million in JobKeeper payments during COVID and, despite record profits, kept them. The ACCC should look at all of these things, not just pricing. The power of parasitic billionaires must be cancelled out through strong government and regulatory action to restore honest competition, ending crony capitalism through restoring free markets and real competition.
https://img.youtube.com/vi/IO7efWpvGGc/maxresdefault.jpg7201280Sheenagh Langdonhttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSheenagh Langdon2023-09-14 07:41:422023-09-14 07:41:46QANTAS Monopoly Puts Profits Over Service
If you rob a bank, you go to jail. If the bank robs you, no banker will go to jail and they won’t even pay a fine. Maybe it has something to do with the Big 4’s top shareholders – Vanguard, Blackrock, State Street, JP Morgan, Charles Schwab, HSBC and others.
After 6 years of inquiries and a Royal Commission, the final Financial Accountability Regime Bill contains no accountability for bad bankers. We supported Senator McKim in trying to make sure bankers could be liable for personal fines if they misbehaved but the Greens caved, joining Labor to pass through the bill without the penalties.
One Nation won’t stop our fight to make bank executives accountable and find justice for their victims.
Transcripts | Speech and Questions
Yesterday, as a servant to the people of Queensland and Australia, I spoke on Senator McKenzie’s matter of public importance regarding the decision by Minister Catherine King to give Qantas a substantial commercial advantage in the Qatar Airlines application for more flights to Australia. I pointed out that the Qatari government owns Qatar Airlines, while Qantas’s most influential shareholders are the merchant banks that invest money on behalf of the world’s richest predatory billionaires. I raise the question: who does this government represent? Is it everyday Australians or foreign wealth?
Here we are again, the very next day, debating the Financial Accountability Regime Bill 2023—a bill devoid of financial accountability. A financial accountability regime bill with no accountability is a bill that could more rightly be called the ‘Letting bank executives do whatever they want bill 2023’. Banking executives in Australia are a protected species for the same reason Alan Joyce and Qantas are protected: crony capitalism.
The big four banks have almost identical major shareholders. They have the same owners as Qantas, including Vanguard with $15 billion in shares in the big four banks, BlackRock with $5 billion, and then the usual suspects with smaller holdings, such as State Street, JP Morgan, Charles Schwab, HSBC and others. With these common owners making up a controlling share, it means we do not have four big banks. We have one monstrous bank with four divisions working under four logos. Why would the banks compete with each other when that competition will lessen their profits and, in turn, reduce the flow of dividends to these investment funds?
Our banking legislation, our checks and balances, were not written for an eventuality where investment funds with A$40 trillion in funds available bought controlling shareholdings in all the big four banks and used those shareholdings for their own financial benefit in a way that reduces competition and has reduced competition. Investment funds get assistance from complicit executives. Those complicit executives know the deal when those same investment funds elect directors who then employ the executives. The same executives know that they have to follow orders to keep their jobs and their fat pay cheques. The same executives then pursue the now infamous ESG measures to ensure that a bank lends only for projects that meet so-called environmental, social and governance standards. ESG is shorthand for using banks to enforce political objectives, like enforcing net zero by defunding coal, gas and most mining while lending for speculative investments in hydrogen and similar unproven fantasy technology.
Why would banks take a course of action that puts shareholders’ funds at risk? It’s because these big investment funds own the companies that profit from those investments. ESG is nothing more than the billionaires who run the world using their ownership of our banks to lend to themselves for risky investments that, if they fail, will reduce their equity. It will reduce the equity of mum and dad investors more. They carry the risk. Everyday Australians are shouldering the risk of these misinvestments that benefit only the world’s most wealthy individuals. As George Carlin famously said, ‘It’s a club, and you’—everyday Australians—’ain’t in it.’
I wonder if whoever made the decision to take personal financial penalties out of the financial accountability regime is in the club. Are you? Those penalties were in this legislation when the Turnbull government introduced it—although, of course, it is not being used, because nobody in the Liberal Party or the Labor Party has the guts to take on these investment funds—least of all, it would appear, Assistant Treasurer, Stephen Jones, who authored this bill.
Everyday Australians are feeling the pain from the failure of this government to govern without fear or favour. Bank branch closures and de-banking are hitting everyday Australians hard, and the banking cartel just sit back and count the profits—record profits. The most glaring exclusion from this bill is the absence of civil penalty provisions such as fines for bankers. To translate that into plain English, it means that senior bankers who behave badly will not, under this bill, face personal fines—no fines at all.
Making bad bankers pay big fines isn’t an idea One Nation and the Greens pulled out of thin air. The Treasury department was the one that initially proposed it. The proposal paper for the financial accountability regime that Treasury published in 2020 included civil penalties for bad bankers. The big bank lobby circled the wagons, mustering all of their high-powered lobbyists and industry groups to browbeat Treasury into removing the personal civil penalties. When the Morrison coalition government introduced the 2021 version of this bill, civil penalties had disappeared. Labor had a chance to fix that when they introduced their versions of the bill, first in 2022 and now with this one in 2023. Instead, the Assistant Treasurer and Minister for Financial Services, Stephen ‘I love the bankers’ Jones, has joined Labor at the hip with their crony-capitalist banking suck-up mates in the coalition.
This bill’s time line is a glaring example of what’s wrong with our country’s governance. In 2017 I chaired the inquiry of the Senate Select Committee on Lending to Primary Production Customers, while at the same time we called for a royal commission into the banks. The horror stories we uncovered in that Senate inquiry were enough to make my skin crawl and my stomach churn: banks stealing land and even livestock straight out from under farmers’ feet, cattle rustling, foreclosing on properties where there hadn’t been breaches of loan repayments, preying on vulnerable people, stealing whole farms, and rewarding mates amongst insolvency practitioners and other farmers. Rabobank, after being fined hundreds of millions of dollars for serious breaches in America, was destroying families in our country. All under your watch.
The evidence of banking practices we uncovered during that inquiry forced the government’s hand. With the testimony of those victims, the government had no option but to call the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. This bill now before us supposedly implements recommendations of that royal commission. What a joke! It’s been more than six years since the Senate select committee I chaired was established. At the end of that long road not a single banker has been thrown in jail for their criminal actions—not one. To my knowledge, not a single banker has paid any civil penalty for the outright fraud uncovered in the royal commission—not one. At the end of the long road to this bill we have something that still will not impose personal civil penalties on bankers who breach their accountability regimes. And you guys just let it continue. If you want to know who holds all the power in this country, look no further than the fact that civil penalties have been dropped.
One Nation will be supporting Senator McKim’s amendment to insert civil penalties back into the bill, but, alas, that failed. If that amendment had been successful, we would have supported the bill. Without that amendment this bill does not go far enough to place accountability on misbehaving bankers, and we cannot support its passage. Minister, why does this bill not contain civil penalty provisions for senior bankers who fail their accountability obligations?
Minister Gallagher: Thank you and I acknowledge Senator Roberts’ speech. I don’t agree with large parts of it but in this bill there are penalties within the legislation before us. They will, individuals can lose deferred remuneration – they can be disqualified from being able to work in the industry and there are individual civil penalties for assisting an entity’s contravention of obligations.
Senator Roberts: Minister, are you aware who owns our big four banks? Let me read the list of shareholders of those banks right now so that you may have some idea of where I’m going. Shareholders of National Australia Bank Limited are the Vanguard Group, with 3.3 per cent; BlackRock Fund Advisors; Vanguard Investments Australia Ltd; Norges Bank Investment Management; State Street Global Advisors; Colonial First State Investments; Goody Capital; BlackRock Advisers; Netwealth Investments; and Caisse de depot et placement du Quebec. Let me read them for the Commonwealth bank: Vanguard Group, BlackRock Fund Advisors, Vanguard Investments Australia, Norges Bank, Goody Capital, Australian Foundation Investment Company Limited, BlackRock Advisors, Netwealth Investments, FIL Investment Management and Vanguard Global Advisors. Westpac: the Vanguard Group, Vanguard Investments Australia, BlackRock Fund Advisors, Norges bank, State Street Global Advisors, Goody Capital, Advance Asset Management, BlackRock Advisors, Australian Foundation Investment Company, Netwealth Investments. ANZ group: the Vanguard Group—is there an echo in this room? BlackRock Fund Advisors—there’s that echo again! Vanguard Investments—it’s still here! State Street—another echo! Goody Capital—another echo! BlackRock Advisors—another echo! This place is an echo chamber, and that’s probably very appropriate. There’s Netwealth Investments—another echo! Dimensional Fund Advisors—they’re only in ANZ. There’s Vanguard—another echo! BlackRock investment—another echo! Minister, are you aware of this?
Minister Gallagher: I’m certainly aware there’s millions of shareholders in Australia’s big banks and across Australia’s financial system, yes.
Senator Roberts: So you allow it to continue with no accountability. It seems we don’t have 4 big banks. We have one monstrous bank working under 4 logos, 4 divisions. There’s no, there’s no difference between their primary products and services and their ways of operating. Their product, services and operations are similar. So similar that I recognised, as Chair of the Senate Select inquiry into lending the primary production customers back in 2017, that they operate as one. They are a cartel. Are you aware of the common ownership and common practice, product and services of these banks?
Minister Gallagher: Well, that information is available, as you know, to all of us. It’s transparent around shareholding in big companies in Australia. So I’m aware and you are aware, and you’re aware because that information is available.
Senator Roberts: The difference, Minister, between you and I is that I want to do something to fix it. Minister, what will your government do about protecting Australians from these parasitic predators?
Minister Gallagher: Well, I don’t agree with the language that you’ve used Senator Roberts.
Senator Roberts: The Minister says, in effect, that she agrees they are parasitic predators. So legislation needs to have teeth. Without teeth, massive regulation protects the Big Four from accountability because of the complexities needing deep pockets for deep pockets for lawyers. A farmer, small businessman, even a woman, cannot afford the lawyers that the big banks resort to at the drop of a hat because they’re protected by deep, complicated legislation. These barriers are barriers to accountability. Are you aware of that? And what do you plan to do about it?
Minister Gallagher: Well, no, I don’t agree with that. The bill we are debating or we completed debated of yesterday is the Financial Accountability Regime Bill. So no, I don’t agree with that. And I do believe since the Royal Commission there has been significant increase in and protections for us through legislative reform like this to make sure that we get a properly regulated and accountable financial system. This is one piece of that. So no, I don’t agree with you.
Senator Roberts: Minister, these regulations provide barriers to entry of new competition to the Big Four or the Big One. Are you aware of that and what do you plan to do about it?
Minister Gallagher: Sorry if your questions about do I think this is a barrier to competition? No.
Senator Roberts: That wasn’t my question. The massive amount of complex regulations, they’re protecting the big four banks, they’re a barrier to competition.
Minister Gallagher: I mean in a sense you’re arguing in a circle because we are putting in place legislative protections and regulations to make sure there is a stronger financial system in this country to deal with some of the problems that we saw come through in the lead up to and during the banking Royal Commission to protect consumers and to make sure that we have a strong, profitable, well led banking system financial system in this country. This legislative response is part of that. The regulations are there to offer that protection. They’re not there to limit competition.
Senator Roberts: They’re effectively working as such Minister. The government’s bank deposit guarantee scheme is worthless. Firstly, it’s not automatic, because the Treasurer has to invoke it and if he doesn’t, there’s no guarantee of bank deposits. Secondly, it covers only a maximum of $80 billion out of $1.3 trillion in bank deposits. For example, the Commonwealth Bank, I understand, has 30 million deposit accounts, meaning an average of $670 per deposit. Meanwhile, the previous government passed a bank bail-in provision that your party supported. These are other ways in which banks avoid accountability for their mistakes and greed. They take none of the risk and all of the profit. They have no penalty for excessive greed causing failure, because government bails them in. When will your government start protecting Australian citizens and revoke the bail-in, for example?
Minister Gallagher: Well, the work that has come out of the royal Commission, of which this is a part of, is precisely about that, Senator Roberts.
https://img.youtube.com/vi/dOb53DZtlmk/maxresdefault.jpg7201280Sheenagh Langdonhttps://www.malcolmrobertsqld.com.au/wp-content/uploads/2020/04/One-Nation-Logo1-300x150.pngSheenagh Langdon2023-09-06 16:55:192023-09-06 16:56:49In Australia the Bank Robs You!