This article is from the source 'guardian' and was first published or seen
on .
It last changed over 40 days ago and won't be checked again for changes.
One Nation members fundraise to attend AGM to oust Hanson as president for life – question time live
One Nation members fundraise to attend AGM to oust Hanson as president for life – question time live
(32 minutes later)
Tony Burke tries to have the prime minister table his talking points, but Scott Morrison says he wasn’t quoting from anything.
Apparently our space program is another example of how we are helping our farmers, according to Karen Andrews.
Anthony Albanese to Scott Morrison:
I think we are getting to the link here somewhere (and I’m hoping its not we are going to mine an asteroids for water, because I have seen that movie and it doesn’t end well.)
Where in the Prime Minister’s talking points for today is the Prime Minister’s description of the banking royal commission as “hollow populist nonsense”, and how is this description consistent with his new inquiry announced today? Will he just say anything at any time when it’s convenient?
Oh, nope, there we go.
Satellites. Satellites help farmers.
Also, something about Mars.
Labor’s Katy Gallagher has asked finance minister Mathias Cormann about the Reserve Bank’s decision to cut interest rates to 0.75%. But she’s done it with a twist, quoting Cormann’s own words when he warned of interest rates at “emergency levels” under Labor, when he argued the RBA had “not cut rates because the economy is doing well”.
Cormann responded that the RBA had responded to the “international context”, and particularly the need to cut because of low global interest rates.
Funny, he didn’t mention anything about household spending. This is what the RBA said on that subject:
“The main domestic uncertainty continues to be the outlook for consumption, with the sustained period of only modest increases in household disposable income continuing to weigh on consumer spending.”
But there are plenty of good stats for Cormann to deploy: 28 years of continuous economic growth, 1.4m new jobs, and Australia’s AAA credit rating. Cormann adds that RBA governor Phil Lowe “expects the economy to gradually strengthen” due to income tax cuts, infrastructure spending and the stabilisation of the property market.
Rob Mitchell gets booted for asking Dan Tehan to table the document he was talking from, as there is no mention of education in the talking points.
Worth it.
Tanya Plibersek to Dan Tehan:
Isn’t it true that, under this government, the number of Australians doing an apprenticeship or a traineeship is lower than it was a decade ago? So why has this government cut $3 billion from Tafe and training?
Tehan:
LABOR CUT FUNDING
(this is not a quote, but it is the general vibe)
Meanwhile, no one is mentioning the Scott Cam contract, which I don’t know, doesn’t seem like the greatest way to appeal to teenagers. Not that we know how much the Cam contract has cost, because for some reason, that is being kept under wraps.
Cool, cool, cool (which Scott Cam is not, btw. I don’t make the rules.)
Peta Murphy has the next question for Scott Morrison:
Can the prime minister confirm that this Liberal government’s record on wages growth is worse than any previous government? Is this a contributing factor to record household debt?
Morrison:
Morrison:
I thank the Leader of the Opposition for his question. As he may recall, I was the Treasurer that initiated the banking royal commission, Mr Speaker...
I thank the member for her question and I’m pleased to inform the House - again - that in the most recent through-the-year figures in the national accounts, that real wages growth was running at 0.7% a year.
(Labor dissolves into laughter)
(“It’s a runaway train,” someone from Labor yells.)
...I don’t recall a banking royal commission being initiated by the member for McMahon when he was Treasurer, or the member for Lilley when he was Treasurer. I don’t remember that at all, Mr Speaker.
Well, Mr Speaker, I note the interjections of those opposite who seem to think that 0.7% is not satisfactory. Then, what do they think about 0.5%, as we inherited from the Labor party when we came to office, Mr Speaker?
I remember there was this government that took that action, and it’s now this government that is acting on the recommendations of the royal commission through the good work of the Treasurer, Mr Speaker. And now is taking further steps - just as we were doing from when we came into government, Mr Speaker, and particularly even before the royal commission reported - we introduced the Banking Executive Accountability Regime, we increased the resources for ASIC and APRA, and we made sure they had the powers available to then to do the work they need to do, Mr Speaker. So we’re taking action.
Mr Speaker, the Labor party condemns themselves from their own mouths, Mr Speaker, when it comes to their own track record, when it comes to managing the economy.
And I’ll tell you who we’re taking action for when it comes to the banking sector, Mr Speaker - that’s for bank customers, Mr Speaker. That’s who needs the greater competition that we want to see in this sector - for small business lenders as well - that’s why we’ve put $2 billion into the small Business Securitisation Fund to deepen and widen the pool of capital available for these new lenders to get their hands on, to provide even better business opportunities to small businesses. Mr Speaker, our government has a real plan, and is implementing a real plan to ensure we get greater competition, greater accountability, and better outcomes out of our banking and financial system to support those who want to go and buy a home, for those who want to go and run a business, for those who need that support to sustain them through the drought they’re facing now.
Maybe the member opposite wants to look up the size of the deficit when they left office, Mr Speaker, or all the other matters, Mr Speaker, in which Labor set fire to the budget when they were in office.
That’s what we’re putting in place, Mr Speaker. When those opposite were in this place - when those opposite were in this place, Mr Speaker, when it came to the needs of those who were customers of the banking and financial sector, they just simply looked the other way.
Mr Speaker, I’m also asked about household debt. I’m asked about household debt. And the treasurer gave, I think, a very good answer about the issues around household debt. But one of the things that I would also add to that is that households themselves are proving to be very effective in how they’re managing their own debt. The House may not know that there is a three-times coverage - three years in advance, that is, that people have been able to build offsets against their mortgages. And they’ve been doing that, Mr Speaker, in a very prudential way.
Rowan Ramsey, who always looks like an extra in a Dickens novel to me, has the first lickspittle.
And one of the big differences between Australia’s household debt and household debt in other parts around the world is this: Australia’s rental housing market - 30% of the entire housing market - is owned by mums and dads who invest in investment properties.
Please refer to the government talking points on the drought for Scott Morrison’s answer.
And if those mums and dads didn’t invest in those investment properties, we would not have the rental stock that is available to people to rent today. And what was Labor’s policy when it came to rents at the last election? To whack a big, fat housing tax on mums and dads who were simply investing in the rental stock of Australians who are renting to put a roof over their heads. The Labor party has never understood the economy. They’ve never understood how to manage money. The economy and the country’s finances has never been safe in Labor’s hands, and the Australian people know it, Mr Speaker.
Anthony Albanese to Scott Morrison:
For anyone interested Paul Karp and Luke Henriques-Gomes have factchecked the government’s talking points for you
The prime minister’s talking points for today say “the major banks have decided to put their profits before their customers”. If that’s the case, why did the treasurer say, just nine days ago, “I’m not focused on new inquiries” – only to announce a new inquiry on interest rates today?
The prime minister's office accidentally sent out its talking points. We fact checked them
Josh Frydenberg takes this one.
Dave Sharma has the next lickspittle question, on the ACCC inquiry.
He again seems to have forgotten how microphones work over the spring break.
“It’s page five,” Anthony Albanese tells his benches.
On this side of the House, we’re focused on CONSUMERS MR SPEAKER! We’re focused ON LOWER BORROWING COSTS. Lower borrowing costs. For the Labor party, you had the member for Rankin out there last week calling for higher levies on the banks, Mr Speaker. Because for every question, the Labor party HAS THE SAME ANSWER – higher taxes, higher levies. The reality is, we have announced today a very significant new inquiry by the ACCC. And this inquiry will be looking at the pricing of the nearly $2 trillion residential mortgage market, Mr Speaker.
They all dutifully turn their pages to page five.
And what we need to understand better is the difference in prices that the banks offer their existing customers and new customers, Mr Speaker – otherwise known as the front book and the back book, Mr Speaker. What we need to know in better detail is the difference between the advertised price and the actual price paid, Mr Speaker. And what we need to do is to understand if there are barriers for customers to switch banks in order to get a better deal. So on this side of the House, Mr Speaker, we stand for loyal bank customers and getting the best possible deal for them.
“This is word for word,” Jim Chalmers yells.
I expect Darren Chester might find it a little difficult jumping up and down during question time today, after he completed his first marathon over the weekend.
Labor MPs are now mouthing along with Josh Frydenberg as he gives his answer.
It took a little longer than two hours, but congrats to everyone who crosses that finish line. It’s more than I could ever do (I look like a drunk baby giraffe which has been crossed with a confused duck when I run).
Graham Perrett appears to be having a particularly great time.
Huge thanks to the awesome volunteers at today’s Melbourne marathon. Managing the course, handing out drinks, cheering us on & big smiles with a medal at the finish. You guys rock! @melbmara @sclark_melbs @TimHammond1 #auspolrunners #melbmara pic.twitter.com/5ZG3gakOzP
Anika Wells, who is not a previous treasurer, despite being the member for Lilley, has the next question:
This has prompted a lot of MPs to get their skin checks done – when was the last time you had yours?
Why won’t the prime minister confirm that household debt is now nearly double disposable income, higher than it has ever been?
This is what skin cancer looks like. Stitches are out. Getting ready to go back to Parliament. Please slip, slop, slap this summer and get a skin check pic.twitter.com/HoFv28nRH8
Frydenberg:
The sincerest form of flattery?
The member for Lilley – who may not have learned any economics from her predecessor, Mr Speaker ... we hope not, we hope not ... The George Costanza, Mr Speaker... The value of household sector assets is five times greater than its debts. And importantly, around three-quarters of the debt is owed by households in the top 40% of the income distribution, Mr Speaker. And they’re generally at a higher capacity to make repayments and are less likely to go through a period of sustained unemployment, Mr Speaker.
Wow that didn't take long - Pauline Hanson using Labor talking points about govt losing control of borders due to asylum seekers coming on planes. #auspol pic.twitter.com/WQpw1xkTHB
And then it is just a bunch of yelling.
We are in the chamber, where the member for Fairfax, Ted O’Brien, is today’s “Who’s that MP?”
It’s not quite Fatman Scoop, but still.
It’s the downhill slide to question time – hit me up with your predictions!
The opposition hold up the governments talking points during #qt today @AmyRemeikis @murpharoo @msmarto #politicslive pic.twitter.com/PmnRp0yIoq
The SBS political editor, Brett Mason, has followed up on his FOI request into how much Melissa Price’s recent overseas trip cost (the department came back with a total of $2,515 for 142 hours’ work processing the request) with a statement from the minister herself:
Josh Frydenberg has just proven he knows how microphones work though. So there is that.
“The department arrived at the FOI cost estimate on its own and my office was not consulted,” Minister Price said in a statement to SBS News.
Meanwhile, politicians really should be banned from using Dorothea Mackellar’s poem as proof that Australia has been in drought before. WE GET IT
“I am more than happy for the costs of my official travel to the UK and Europe last month to be released under normal FOI processes.”
The government really, really, really wants to talk about what it is doing about the drought.
Anna Bligh, the spokesperson for the Australian Banking Association, has given the banks’ response to the ACCC inquiry.
Helen Haines has the independents’ question and it is to David Littleproud:
She says it’s a “complicated” process, but that she hopes that it will show people what goes into the decisions.
The minister today wrote in an opinion piece, ‘Our drought strategy is clear.’ This morning, Fiona Simpson, president of the NFF, said, ‘Unfortunately, Australia remains without a national drought strategy.’ Like many farmers around the country, I’m bamboozled. Can the minister clarify – does the government actually have a drought strategy and is the strategy the minister referred to the one the NFF doesn’t agree exists – a strategy which was written in 1992 when the minister himself was 16 years old?
I look forward to an inquiry that is genuinely and authentically focused on casting more light for the public on the many factors that go into making up our interest rates. I don’t want to pre-empt the outcome of the inquiry, but I do hope that, at the end of it, Australians will have a clear understanding of the many factors that determine their interest rates.
A bit of millennial shaming there, but that’s part of the game.
The One Nation members have so far raised just $240 of their $15,000 total.
Littleproud:
The reason the members who created the PHON page want Pauline Hanson removed from the executive and James Ashby gone is:
(refer to the government talking point on drought for the answer)
1. To expel James Ashby from One Nation (Pauline Hanson’s One Nation), and all divisions, for life.
Jim Chalmers to Scott Morrison:
> The reason being for bringing One Nation into disrepute due to his actions over the past few years. Ie the American trip to the National Rifle Association with Steve Dickson (Senate candidate), the scuffle and fight with former One Nation Senator Brian Burston in Parliament House last year, the One Nation aeroplane saga and investigations that came with it and for other headlines that have hit the media.
Is the prime minister aware of any year when household debt was higher than it is now?
2. To remove Pauline Hanson as President for Life of One Nation federal division.
Morrison:
>The reason being that One Nation should be democratic and members should be able to nominate for executive positions within the party. This is also for the better management of the party, which will in the future minimise any litigation that the party may encounter, due to any poor decisions. One Nation has been subjected to this in the past, with Pauline Hanson even being put in jail.
I thank the member for his question on household debt. Household debt does continue to trouble the government. And the pressure that it places on families. And that is one of the reasons why, Mr Speaker, we provided the tax relief - through this parliament - when we were re-elected on May 18 to ensure that we could be taking the pressure off families - particularly those on low- and middle-incomes - so they could be able to meet ... the ... increasing challenges that they do on their household budgets.
You may not be a supporter of Pauline Hanson or One Nation but One Nation is a political party that was intended to hold the major political parties to account. Without democracy in this party, this will never happen.
And of course, a big part of that, Mr Speaker, is the things that they owe. But the good thing in Australia is the times’ coverage when it comes to household debt – the treasurer will correct me if I’m wrong – but it’s about five times, five times, Mr Speaker, the asset coverage to the debt coverage, and it’s predominantly within the housing sector.
Once again: these are the words from PHON’s supporters.
If the shadow treasurer thinks there is a significant issue in terms of the credit-worthiness of the Australian housing market, which underpins the credit position of Australians in this country, then he should say so. He should say that. But he won’t say that, because he knows it’s not true. The shadow treasurer once again is seeking to talk down the Australian economy and, Mr Speaker, talk down and create anxiety about issues, Mr Speaker, which are being well-managed by Australians - and conscientiously managed.
Sarah Vogler from the Courier Mail first reported this on the weekend, but it deserves another look. One Nation appears to be charging its members to attend its AGM this Saturday.
As Vogler reported, members have set up a Go Fund Me page because they want to be able to send enough members to the meeting to knock Pauline Hanson off as “president for life” and also “expel James Ashby from One Nation and all divisions, for life”.
From the Go Fund Me page:
Political parties in Australia should be democratic.
When a person joins a political party as a member, they are all entitled to attend the organisation’s AGM and have voting rights.
Unfortunately, at the upcoming One Nation annual general meeting on the 19th October, many members will not be able to attend due to the exorbitant attendance fee that the One Nation executive are charging ($150 a ticket and $100 for pensioners). In this case, many members have not even been invited to the AGM.
The One Nation executive is headed by Pauline Hanson, who has made herself President for Life, and Pauline’s advisor is James Ashby, who is also a member of One Nation.
Pauline Hanson is a Queensland senator, which is more than a full-time job. There are many party members who are of the opinion that Pauline needs to concentrate on her Senate work and leave other capable people to manage the executive and finances of One Nation.
Unfortunately, because Pauline has not had the time to dedicate to the management of the One Nation political party, there are party members that believe that she has trusted and let the wrong people in to manage the party. Pauline cannot do every job herself and One Nation and Queensland need all jobs done efficiently and properly.
This GoFundMe is to raise money for those members who cannot afford to attend the AGM, to pay for their tickets to go, and vote on important party decisions.
To put the One Nation party back on track to being a democratic party once again, some members would like to be able to attend and back the following motions at the meeting.
Rod Simms is talking on the ACCC inquiry into banks not passing on the interest rate cuts:
This inquiry is going to help us understand what decisions banks make in relation to mortgage interest rates, how they make them, why they make them, what implications there are for consumers and for the community in general.
The banking sector that is a very important one. The mortgage rates that consumers pay are often the most important financial transactions that they make.
We want to make sure that the customers, consumers, community really understand exactly how banks make their decisions, why they make their decisions, there is often a lot of confusion amongst customers in relation to the big difference between the headline rate, the standard variable rate they see and what people actually pay.
It is important to understand why that behaviour happens. It is often quite confusing and frustrating for customers. So we are very interested in finding out what we can to inform customers, inform the community, see where we can improve competition in the banking sector, see where we can get consumers getting better deals under the interest rates.
For those looking for the grand plan of why the government’s talking points were released, may I direct you to the age-old adage of “cock-up over conspiracy”.
There is nothing in there we did not know. There is nothing in there that has not been made public before. It is interesting from a lol perspective, because these things aren’t supposed to be mass mailed out to the media, and interesting from a news perspective because it shows you what the government believes its vulnerabilities are and the lines it has come up with to counter it.
