SENATE Official Hansard
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COMMONWEALTH OF AUSTRALIA PARLIAMENTARY DEBATES SENATE Official Hansard MONDAY, 26 MAY 1997 THIRTY-EIGHTH PARLIAMENT FIRST SESSION—FOURTH PERIOD BY AUTHORITY OF THE SENATE CANBERRA CONTENTS MONDAY, 26 MAY Representation of Western Australia .......................... 3519 Senators: Swearing In .................................... 3519 Representation of Victoria ................................ 3519 AIDC Sale Bill 1997— Second Reading ...................................... 3519 In Committee ........................................ 3528 Third Reading ....................................... 3535 Questions Without Notice— Media Ownership ..................................... 3535 Economy ........................................... 3536 Wallis Inquiry ....................................... 3537 Interest Rates ........................................ 3537 Social Security: Income Stream Products .................... 3538 Aboriginal Reconciliation ............................... 3539 Public Service: Wage Levels ............................. 3539 OECD: Multilateral Agreement on Investment ................. 3540 Public Servants: Authorisation of Expenditure ................. 3541 Youth Unemployment .................................. 3542 Mr David Oldfield .................................... 3543 Distinguished Visitors ................................... 3544 Questions Without Notice— Small Business ....................................... 3544 Taxation ........................................... 3545 Australian Broadcasting Corporation ........................ 3545 Minister for Transport and Regional Development .............. 3546 Lake Eyre Basin ...................................... 3548 Answers to Questions On Notice— Question No. 482 ..................................... 3549 Answers to Questions Without Notice— Minister for Transport and Regional Development .............. 3549 Condolences— Sir William John Aston KCMG ........................... 3556 Petitions— Australian Broadcasting Corporation ........................ 3558 Radio Triple J ....................................... 3558 Housing ........................................... 3558 Repatriation Benefits .................................. 3558 Repatriation Benefits .................................. 3559 Notices of Motion— Aboriginal and Torres Strait Islander Affairs .................. 3559 Aboriginal and Torres Strait Islander Affairs .................. 3560 Landmines .......................................... 3561 Logging and Woodchipping .............................. 3561 Energy Research and Development Corporation ................ 3561 Scrutiny of Bills Committee ............................. 3561 Consideration of Appropriation Bills by Legislation Committee ..... 3561 Legal and Constitutional References Committee ................ 3562 Days and Hours of Meeting .............................. 3562 Papua New Guinea .................................... 3562 Nigeria: Ogoni People .................................. 3562 Hazardous Waste ..................................... 3563 Foreign Affairs, Defence and Trade Legislation Committee ........ 3563 Legal and Constitutional Legislation Committee ............... 3563 Higher Education Council Report .......................... 3563 Iran: Baha’i Faith and Human Rights ....................... 3563 Logging in Indonesia .................................. 3564 Sri Lanka .......................................... 3564 Committees— CONTENTS—continued Economics Legislation Committee—Extension of Time .......... 3565 Order of Business— Rural and Regional Affairs and Transport References Committee .... 3565 Workplace Relations Regulations .......................... 3565 Public Interest Secrecy Committee ......................... 3565 Finance and Public Administration References Committee ........ 3565 Corporations and Securities Committee ...................... 3565 Qantas ............................................ 3565 Logging in Malaysia ................................... 3565 Logging and Woodchipping .............................. 3565 Customs Tariff Amendment Bill (No. 2) 1997— First Reading ........................................ 3566 Second Reading ...................................... 3566 Logging and Woodchipping ............................... 3567 Committees— Superannuation Committee—Meeting ....................... 3567 Documents— Department of the Senate ............................... 3567 Assent to Laws ........................................ 3567 Committees— Electoral Matters Committee—Membership ................... 3568 International Tax Agreements Amendment Bill (No. 1) 1997, Crimes Amendment (Forensic Procedures) Bill 1997, Constitutional Convention (Election) Bill 1997— First Reading ........................................ 3568 Second Reading ...................................... 3568 Hazardous Waste ....................................... 3572 Order of Business— Rearrangement of Business .............................. 3577 Customs and Excise Legislation Amendment Bill (No. 2) 1996 (No. 2)— Second Reading ...................................... 3577 Documents— Separation of Aboriginal and Torres Strait Islander Children from their Families .......................................... 3586 Customs and Excise Legislation Amendment Bill (No. 2) 1996 (No. 2)— Second Reading ...................................... 3586 Hearing Services Administration Bill 1997, Hearing Services and AGHS Reform Bill 1997— Second Reading ...................................... 3601 In Committee ........................................ 3613 Adjournment— Job Losses in Canberra ................................. 3618 ACT Brumbies ....................................... 3618 Protection of Privacy .................................. 3620 Kurwongbah By-Election ............................... 3622 Brisbane Strikers ..................................... 3622 Queensland: Document Archiving ......................... 3623 Documents— Tabling ............................................ 3624 Questions On Notice— Consumer Representatives—(Question No. 557) ............... 3626 Energy Research and Development Corporation Grants—(Question No. 558) ............................................ 3627 SENATE P3519 Monday, 26 May 1997 staff—although our concerns in this area have, to some extent, been alleviated. The AIDC was established in 1970 as an The PRESIDENT (Senator the Hon. investment bank to finance Australian indus- Margaret Reid) took the chair at 12.30 p.m., try. Its role, when established, was essentially and read prayers. to fill a gap that was not then adequately covered by the banking sector and other REPRESENTATION OF WESTERN financial lenders. It, essentially, was estab- AUSTRALIA lished to cover cases where the development The PRESIDENT—I inform the Senate would not otherwise have taken place or that I have received, through the Governor- would have been possible only in circum- General, from the Governor of Western stances—unless local finance was available— Australia, a facsimile copy of the certificate that involved ownership of control going to of the choice of the houses of the Western foreign investors. Australian parliament of Philip Ross Lightfoot Over the years, the AIDC has pioneered to fill the vacancy caused by the death of infrastructure financing and it has a unique Senator John Panizza. I table the document. capability to turn public policy into reality through reacting as a policy lever for national SENATORS: SWEARING IN development. It developed widely recognised Senator Philip Ross Lightfoot made and project resource and infrastructure financing subscribed the oath of allegiance. expertise. Two of the many significant exam- ples of developments which occurred with REPRESENTATION OF VICTORIA AIDC financing include the Woodside North The PRESIDENT—I inform the Senate West Shelf gas project, which involved that I have received, through the Governor- $US1.6 billion of financing, and the Argyle General, from the Governor of Victoria the Diamond project, where the AIDC was the certificate received by the Governor-General only Australian financier. There would have of the choice of the houses of the Victorian been no Australian equity in it but for the parliament of Senator Karen Margaret Synon AIDC. The Eraring Power Station project was to fill the vacancy caused by the resignation also financed through the AIDC, as was the of Senator the Hon. Jim Short. I table the nucleus telectronics pacemaker, which AIDC certificate. underwrote the initial financing of. In addition to all of those very worthwhile and significant AIDC SALE BILL 1997 infrastructure investments, the AIDC has contributed some $130 million in dividend Second Reading payments to the Commonwealth since 1983. Debate resumed from 20 March, on motion Overall, the AIDC has performed well. It by Senator Hill: did make a loss in 1991, but most banks That this bill be now read a second time. reported major losses in that period. But it did Senator SHERRY (Tasmania—Deputy not, through its difficult period, need to draw Leader of the Opposition in the Senate) on the government guarantee. The loss occur- (12.35 p.m.)—The AIDC Sale Bill 1997 was red largely because in the mid- to late 1980s introduced into the House of Representatives the AIDC had moved away from its core on 22 February and makes the legislative business of infrastructure and resources. We, amendments to enable the sale of the Austral- as a Labor Party, believe that there is still a ian Industry Development