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You can find the current article at its original source at http://www.theguardian.com/australia-news/live/2015/oct/15/malcolm-turnbull-calls-summit-to-counter-violent-extremism-politics-live

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Version 19 Version 20
Cross-party group to work on fresh approach to asylum seekers - as it happened Cross-party group to work on fresh approach to asylum seekers - as it happened
(30 days later)
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Night time politicsNight time politics
Thanks for your company this week. And thanks to the brains trust, Shalailah Medhora, Daniel Hurst and Lenore Taylor. Mike Bowers has excelled himself.Thanks for your company this week. And thanks to the brains trust, Shalailah Medhora, Daniel Hurst and Lenore Taylor. Mike Bowers has excelled himself.
Next week, Katharine Murphy will be driving the big red blog. She will also have senate estimates to contend with, so that should be fun.Next week, Katharine Murphy will be driving the big red blog. She will also have senate estimates to contend with, so that should be fun.
Good night.Good night.
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Adani coalmine approvedAdani coalmine approved
Oh, and did I mention Adani’s mine has been approved by environment minister Greg Hunt? Ollie Milman writes:Oh, and did I mention Adani’s mine has been approved by environment minister Greg Hunt? Ollie Milman writes:
Australia’s largest coal project, Adani’s Carmichael mine, has again been given the green light by the federal government two months after it was stripped of its approval after a federal court challenge.Australia’s largest coal project, Adani’s Carmichael mine, has again been given the green light by the federal government two months after it was stripped of its approval after a federal court challenge.
The $16.5bn mine and rail development, earmarked for the Galilee basin region of central Queensland, had its federal approval set aside in August after it emerged that Greg Hunt, the environment minister, had not considered its impact upon two vulnerable species, the yakka skink and the ornamental snake.The $16.5bn mine and rail development, earmarked for the Galilee basin region of central Queensland, had its federal approval set aside in August after it emerged that Greg Hunt, the environment minister, had not considered its impact upon two vulnerable species, the yakka skink and the ornamental snake.
Hunt has reassessed the project and approved it for a second time, subject to “rigorous conditions” that would protect threatened species.Hunt has reassessed the project and approved it for a second time, subject to “rigorous conditions” that would protect threatened species.
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In the flurry that is our Thursday, I have completely ignored the story about Westpac. Scott Morrison accused Westpac of gouging after the bank increased its standard variable interest rate. Thank the gods for Greg Jericho, otherwise known as Grogs who has written on this.In the flurry that is our Thursday, I have completely ignored the story about Westpac. Scott Morrison accused Westpac of gouging after the bank increased its standard variable interest rate. Thank the gods for Greg Jericho, otherwise known as Grogs who has written on this.
The news came on Wednesday that Westpac was raising its standard variable home loan rate by 20 basis points. It had been expected and demonstrates yet again that when the choice comes between profits and customers, banks will always choose profits.The news came on Wednesday that Westpac was raising its standard variable home loan rate by 20 basis points. It had been expected and demonstrates yet again that when the choice comes between profits and customers, banks will always choose profits.
It takes a fair bit of gall for a bank to announce it will be forcing home owners to pay about $45 a month more on an average home loan of $350,000, at the same time it announces its profits rose 6% over the previous year.It takes a fair bit of gall for a bank to announce it will be forcing home owners to pay about $45 a month more on an average home loan of $350,000, at the same time it announces its profits rose 6% over the previous year.
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Lord! Mayors.Lord! Mayors.
He gets through a lot in a day, our Mike B.He gets through a lot in a day, our Mike B.
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The unmistakeable visage of Bob Katter.The unmistakeable visage of Bob Katter.
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The Art of Albo.The Art of Albo.
It’s a thing.It’s a thing.
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South Australians Liberal Christopher Pyne and Independent Nick Xenophon will be pitted against one another in the next federal election. Xenophon goes from strength to strength electorally, while the Coalition is having trouble in South Australia as a result of a series of decisions including car manufacturing and the stink over submarines. But they came together to bring forward a bill after long lobbying by the family of murdered Adelaide woman Anthea Bradshaw.South Australians Liberal Christopher Pyne and Independent Nick Xenophon will be pitted against one another in the next federal election. Xenophon goes from strength to strength electorally, while the Coalition is having trouble in South Australia as a result of a series of decisions including car manufacturing and the stink over submarines. But they came together to bring forward a bill after long lobbying by the family of murdered Adelaide woman Anthea Bradshaw.
Bradshaw’s parents, Martin and Ros, constituents in Christopher Pyne’s Sturt electorate, and brothers Craig and Paul, have long campaigned for this change.Bradshaw’s parents, Martin and Ros, constituents in Christopher Pyne’s Sturt electorate, and brothers Craig and Paul, have long campaigned for this change.
Pyne said the bill was a culmination of years of work by the Bradshaws and others and would mean that the law regarding murder or manslaughter of Australians overseas would apply in the same way for crimes committed before 2002 as it does today.Pyne said the bill was a culmination of years of work by the Bradshaws and others and would mean that the law regarding murder or manslaughter of Australians overseas would apply in the same way for crimes committed before 2002 as it does today.
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Ask and ye shall receive.Ask and ye shall receive.
Absolutely wild to see Bill Shorten hit the streets minutes after #qt pic.twitter.com/tyfhKVOn5mAbsolutely wild to see Bill Shorten hit the streets minutes after #qt pic.twitter.com/tyfhKVOn5m
Turnbull in question time:Turnbull in question time:
So really, if the honourable member wants to go round wearing a sandwich board saying, “Malcolm Turnbull’s got plot of money,” feel free. I think people know that.So really, if the honourable member wants to go round wearing a sandwich board saying, “Malcolm Turnbull’s got plot of money,” feel free. I think people know that.
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Shalailah MedhoraShalailah Medhora
A number of politicians will work with religious leaders on creating a new, humane asylum seeker policy, after conceding that public opinion on the issue has shifted.A number of politicians will work with religious leaders on creating a new, humane asylum seeker policy, after conceding that public opinion on the issue has shifted.
The 5/5 working group, containing five politicians from different parties and five cross-denominational religious leaders, was created during a forum in Parliament House on Thursday.The 5/5 working group, containing five politicians from different parties and five cross-denominational religious leaders, was created during a forum in Parliament House on Thursday.
Around 50 leaders representing Christian, Muslim and Jewish faith groups met with 15 politicians from the Liberal, National, Labor and Greens parties on how to create a “solution c” on asylum seekers, away from the polarising “stopping the boats” and “opening the borders” rhetoric that has surrounded the debate.Around 50 leaders representing Christian, Muslim and Jewish faith groups met with 15 politicians from the Liberal, National, Labor and Greens parties on how to create a “solution c” on asylum seekers, away from the polarising “stopping the boats” and “opening the borders” rhetoric that has surrounded the debate.
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Shalailah MedhoraShalailah Medhora
Over in the pink house, the new employment minister, Michaelia Cash, is being asked about the industrial relations legacy left by her predecessor, Eric Abetz.Former Australian Capital Territory chief minister turned federal senator, Katy Gallagher, asked Cash if acknowledged that industrial action undertaken by public servants in the last 12 months is the worst we’ve seen in 30 years.Cash concedes that industrial relations have occurred, but says public servants need to be realistic.Over in the pink house, the new employment minister, Michaelia Cash, is being asked about the industrial relations legacy left by her predecessor, Eric Abetz.Former Australian Capital Territory chief minister turned federal senator, Katy Gallagher, asked Cash if acknowledged that industrial action undertaken by public servants in the last 12 months is the worst we’ve seen in 30 years.Cash concedes that industrial relations have occurred, but says public servants need to be realistic.
In the real world you don’t get a pay rise without a productivity gain.In the real world you don’t get a pay rise without a productivity gain.
Staff in departments representing 50% of all public servants have voted to take industrial action since the Coalition came to power in 2013, the community and public sector union estimates.Staff in departments representing 50% of all public servants have voted to take industrial action since the Coalition came to power in 2013, the community and public sector union estimates.
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If you want to wear a sandwich board...If you want to wear a sandwich board...
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Smile and the whole world smiles with you. Except in parliament.Smile and the whole world smiles with you. Except in parliament.
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I would call that a sledge.I would call that a sledge.
Congratulations @steveciobo on his first question in the House, a wait of a mere 14 years and 11 months or since @Wyatt_MP was 11 years oldCongratulations @steveciobo on his first question in the House, a wait of a mere 14 years and 11 months or since @Wyatt_MP was 11 years old
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Naughty Matt Doran.Naughty Matt Doran.
.@cpyne breaks the "no props" rule with a lovely photo of @AlboMP on Mt Rushmore #qt pic.twitter.com/NZBq6T3q7l.@cpyne breaks the "no props" rule with a lovely photo of @AlboMP on Mt Rushmore #qt pic.twitter.com/NZBq6T3q7l
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That’s it for QT. A veritable avalanche of Bowers pics coming up.That’s it for QT. A veritable avalanche of Bowers pics coming up.
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Innovations min. @cpyne taunts @AlboMP with a photo of Mt Rushmore with his head on it @gabriellechan @GuardianAus pic.twitter.com/LrjhvwBJj6Innovations min. @cpyne taunts @AlboMP with a photo of Mt Rushmore with his head on it @gabriellechan @GuardianAus pic.twitter.com/LrjhvwBJj6
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Turnbull hits back at Labor on his wealthTurnbull hits back at Labor on his wealth
Tony Burke to Turnbull: The average superannuation balance of an Australian woman contributing to superannuation is around$40,000. The minimum buy-in fort he Bowery investment fund in the Cayman Islands is $1m US. Is the prime minister seriously so out of touch that he thinks the millions of Australians who simply choose Australian super as their default fund are doing the same thing that he did when he actively invested in an exclusive fund registered in the Cayman Islands?Tony Burke to Turnbull: The average superannuation balance of an Australian woman contributing to superannuation is around$40,000. The minimum buy-in fort he Bowery investment fund in the Cayman Islands is $1m US. Is the prime minister seriously so out of touch that he thinks the millions of Australians who simply choose Australian super as their default fund are doing the same thing that he did when he actively invested in an exclusive fund registered in the Cayman Islands?
Christopher Pyne asks how the “politics of envy” is in the purview of the PM.Christopher Pyne asks how the “politics of envy” is in the purview of the PM.
Speaker asks Burke to rephrase the question. Burke does but the substance stays the same.Speaker asks Burke to rephrase the question. Burke does but the substance stays the same.
At which Turnbull gives the following speech. It is longish, I know for a blog entry, but it is worth running.At which Turnbull gives the following speech. It is longish, I know for a blog entry, but it is worth running.
It is a very sad day that the Labor party, which could be talking today about the economy, could be asking about growth, could be proposing some new ideas on innovation or enterprise, spends most of today’s question time and most of yesterday’s question time on just another shabby smear campaign. Just another wander down the avenue of the politics of envy, just another smear.It is a very sad day that the Labor party, which could be talking today about the economy, could be asking about growth, could be proposing some new ideas on innovation or enterprise, spends most of today’s question time and most of yesterday’s question time on just another shabby smear campaign. Just another wander down the avenue of the politics of envy, just another smear.
I’ll save the honourable member some trouble. The fact is that Lucy and I have been very fortunate in our lives. We have more wealth than most Australians, that is true. That is absolutely true. We’ve worked hard, we’ve paid our taxes, we’ve given back.I’ll save the honourable member some trouble. The fact is that Lucy and I have been very fortunate in our lives. We have more wealth than most Australians, that is true. That is absolutely true. We’ve worked hard, we’ve paid our taxes, we’ve given back.
I don’t believe that my wealth, or frankly most people’s wealth, is entirely a function of hard work. Of course hard work is important but, you know, there are taxi drivers that work harder than I ever have and they don’t have much money. There are cleaners that work harder than I ever have or you ever have and they don’t have much money. And the honourable leader of the opposition could think about some of those cleaners and how he looked after them ...I don’t believe that my wealth, or frankly most people’s wealth, is entirely a function of hard work. Of course hard work is important but, you know, there are taxi drivers that work harder than I ever have and they don’t have much money. There are cleaners that work harder than I ever have or you ever have and they don’t have much money. And the honourable leader of the opposition could think about some of those cleaners and how he looked after them ...
This country is built upon hard work, people having a go and enterprise. Some of us will be more successful than others, some of us are fortunate in the turn of business, some of us are fortunate in the intellect we inherit from our parents. There is lot of luck in life and that’s why all of us should say, when we see somebody less fortunate then ourselves, ‘There but for the grace of God goes me.’ I have always taken that view and honourable members opposite who know me know that is true.This country is built upon hard work, people having a go and enterprise. Some of us will be more successful than others, some of us are fortunate in the turn of business, some of us are fortunate in the intellect we inherit from our parents. There is lot of luck in life and that’s why all of us should say, when we see somebody less fortunate then ourselves, ‘There but for the grace of God goes me.’ I have always taken that view and honourable members opposite who know me know that is true.
Now, let me say the simple point I made about First State Super was simply this – that big funds, big companies, small funds invest in these offshore vehicles and when they do, the income comes back to Australia and all of the tax – not most of it, all of it – goes to the Australian taxation office.Now, let me say the simple point I made about First State Super was simply this – that big funds, big companies, small funds invest in these offshore vehicles and when they do, the income comes back to Australia and all of the tax – not most of it, all of it – goes to the Australian taxation office.
So really, if the honourable member wants to go round wearing a sandwich board saying, ‘Malcolm Turnbull’s got a lot of money’, feel free. I think people know that.So really, if the honourable member wants to go round wearing a sandwich board saying, ‘Malcolm Turnbull’s got a lot of money’, feel free. I think people know that.
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Labor focuses on Turnbull's investments
A Dixer to Steve Ciobo on the government’s aid program.
Dreyfus asks Turnbull when he became aware that the Bowery fund was registered in the Cayman Islands.
Turnbull says he feels sorry for Dreyfus because he is “spending a lot more time on my investments than I have had time to spend”.
He says Josephine Lindon, an Australian in New York, manages his investments because “I don’t have time to go through these things”.
I put my investments in the hands of a very capable professional.
Turnbull says many members in the house, “almost all”, are invested in Australian superannuation funds which have invested in managed funds, registered in the Cayman Islands. He names First State Super, a superannuation fund for government employees as an example of having such investments.
I don’t think they are suggesting the directors of First State Super are doing anything inappropriate ... We have been scrupulous about these affairs and we always will be.
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A Dixer in between and then Andrew Leigh to Turnbull: According to the Australian newspaper, the prime minister has said, and I quote, “If you’re a PAYG taxpayer, there are few opportunities available to you to reduce the level of your tax.” Why is it the prime minister thinks it’s appropriate for him to actively invest in a vulture fund located in a tax haven when, in his words, it’s completely out of reach for most Australians?
Speaker Tony Smith rules out the second part of the question because personal matters have to be linked to policy issues.
Then this from Turnbull:
I have answered the question in the previous answer but I do have to record my deep sympathy for the honourable member. I felt sorry for him, listening to him on the radio this morning, being forced to utter such crude smears as he’d been sent out to do and now he’s having to do it again. He is a former professor of economics and I know him well enough to know how uncomfortable he feels having to do the dirty work that the leader of the opposition is not prepared to do himself.
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Mark Dreyfus to Turnbull: The minimum outside investment for the Bowery Opportunity Fund registered in the Cayman Islands and invested in by the prime minister is US$1 million. Why does the prime minister consider it appropriate to actively invest in this exclusive fund registered in a notorious tax haven when the Australian government is claiming to be working in the G20 to address profit shifting and tax evasion?
Turnbull:
I notice the shadow assistant treasurer this morning offering me investment advice which I thank him for but perhaps he should stick to his day job. He suggested I should invest in a large Australian industry super fund. The reason – just so that honourable members are aware – the reason I did not invest in managed funds, large managed funds like that in Australia, is because obviously, they’re indexed funds [and] they have a very large exposure to Telstra and I was the communications minister and I had a lot to do with Telstra. The whole focus was to avoid conflicts.
The consequence of an Australian investor investing in a managed fund of that kind located in the Cayman Islands is that all of the income that is paid to that Australian investor is taxed in Australia and paid to the Treasury. If the Australian investor invested in a managed fund that was located in the United States there would be 15% US withholding tax so at least 15% of the tax paid would go to the United States government so the choice of the offshore vehicle actually means that more tax is paid in Australia than otherwise. The same amount of tax is paid but more of it is paid in Australia. That is the consequence of the arrangements. There is no tax avoided in Australia, in fact more tax is paid in Australia as a consequence.
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A Dixer to Kelly O’Dwyer on small business.
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Chris Bowen to Turnbull: Yesterday the treasurer said about the government’s multinational tax policy, and I quote, “It will raise real revenue,” but according to page 14 of the government’s own budget paper number, the government’s booked zero revenue against the multinational tax policy. Prime minister, why won’t the government get serious about making large multinational companies pay a fair share of tax?
Turnbull:
The Labor government, in its six years in office, completely ignored the changes in the digital economy that were allowing the tax base to be eroded by large multinational companies ...
This government is taking that on with changes to the GST, the so-called Netflix tax, with changes that are being discussed with the states today to lower – as we speak – to lower the threshold, the tax-free threshold for goods imported from $1,000, to reduce that. All of these taxes are now much easier to collect.
In terms of the specific multinational measures, the base erosion of profit shifting measures, the commissioner for taxation himself has said that he expects them to raise hundreds of millions of dollars in additional revenue. Time will tell but we’re very comforted by the forecast that he’s given.
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A Dixer to the environment minister, Greg Hunt, on exporting environmental technology under the recent free trade agreements.
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Labor to Turnbull: Today the Senate passed Liberal government legislation which will ensure that the amount of taxation paid by private corporations with a turnover of over $100m a year will remain secret. Why is the Liberal government so committed to keeping the tax affairs of large private corporations a secret from Australians?
Turnbull says the tax transparency laws, brought in by Labor, had inadvertently put medium-sized businesses at a disadvantage.
This had nothing to do with gathering tax. What it was calculated to do, however, was to prejudice medium-sized Australian private companies as against big multinationals and public-listed companies. What that meant was that if you were a food manufacturer, family-owned business, and you were dealing with Coles or Woolworths, whose profits of course are a matter of public record because they’re public listed companies, and you were negotiating with them, it would mean that Coles or Woolworths on the other side of the table would know everything about your affairs and be in an even stronger bargaining position. And it underlines this fact: that the Labor party has never been comfortable with small or medium businesses.
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A Dixer to PDuddy, the immigration minister otherwise known as Peter Dutton.
Will the minister update the house on the role of the 457 visas in creating jobs and building the economy and how does engaging with our overseas neighbours help boost jobs and growth here in Australia and what are the obstacles to this engagement?
4.27am BST
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The innovation minister, Christopher Pyne, gets a question on innovation and commercialising research in creating jobs and growth.
Pyne uses it, as Scott Morrison did before, to razz Anthony Albanese for claiming responsibility for too many infrastructure projects. Albo is often reminding the parliament that many of the projects which the government claims credit for were started under Labor.
Morrison joked that Albo claimed credit for Stonehenge and Machu Picchu. Pyne adds in Mount Rushmore. There is general bonhomie on this, the last day of the sitting week.
Albo doesn’t miss the opportunity.
It goes to relevance because the only hole they dug was the one they buried the former prime minister in!
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