Queensland Parliamentary Debates [Hansard] Legislative Assembly TUESDAY, 6 SEPTEMBER 1988 Electronic reproduction of original hardcopy 438 6 September 1988 Papers TUESDAY, 6 SEPTEMBER 1988 Mr SPEAKER (Hon. L. W. Powell, Isis) read prayers and took the chair at 10 a.m. ASSENT TO BILL Appropriation Bill (No. 1) Mr SPEAKER: Honourable members, I have to report that on Friday, 2 September, the Acting Speaker, Mr Row, presented to the Govemor Appropriation Bill 1988-1989 (No. 1) for the royal assent and that the Governor was pleased, in his presence, to subscribe his assent thereto in the name and on behalf of Her Majesty. ASSENT TO BILL Assent to the Appropriation Bill (No. 1) reported by Mr Speaker. PETITIONS The Deputy Clerk announced the receipt of the following petitions— Kuranda Access Road From Mr Gilmore (421 signatories) praying that the Parliament of Queensland will ensure the provision of two access roads into Kuranda instead of one. Licensed Sporting Clubs From Mr Newton (881 signatories) praying that the Parliament of Queensland will review restrictions on trading hours, fund-raising and other activities in licensed sporting clubs. Incidence of Cancer and Leukaemia in Burdekin District From Mr Stoneman (953 signatories) praying that the Parliament of Queensland will ensure that a complete investigation is carried out into the high incidence of cancer and leukaemia in the Burdekin district. Petitions received. PAPERS The following papers were laid on the table— Orders in Council under— State Service Superannuation Act 1972-1988 Police Act 1937-1987 Valuation of Land (Annual Adjustment) Act 1984-1985 Valuers Registration Act 1965-1985 Regulations under— Motor Vehicles Insurance Act 1936-1979 Valuation of Land Act 1944-1987 Valuers Registration Act 1965-1985. Ministerial Statement 6 September 1988 439 MINISTERIAL STATEMENT Referendum to Alter Constitution Hon. M. J. AHERN (Landsborough—Premier and Treasurer and Minister for the Arts) (10.05 a.m.), by leave: The Australian electors' resounding and unequivocal "No" to the 3 September referendum questions demands some comment. The most important aspect of the referendum result is that all questions in all States were lost. This bicentennial referendum was not a referendum based on any legitimate desire to amend our Constitution for the betterment of our Federation; it was a political referendum designed to hobble the Senate, override the States and entrench into the Constitution by the back door a Bill of Rights. More sinister, perhaps, was referendum question No. 2—so-called fair and democratic elections. This was a Labor attack on Queensland! It is called the "Sheraton Deal". It was cooked up to resolve factionalism in the Queensland Labor Party by the Prime Minister, Peter Beattie, Ian McLean and Errol Hodder. It was the sop to them to be "Good Boys". Of course, as is evidenced by the referendum on Saturday, the Labor Party rank- and-file members do not support the electoral system. Look at the figures from Capricomia, Leichhardt and Herbert. Even Mr Casey and Mr Bums do not support it; they have supported a two-zone system. Indeed, I understand Mr Casey was so brave as to have a Bill drawn up on a two-zonal system. No wonder Labor rank-and-file supporters deserted the Labor Party on Saturday! The sad aspect about last Saturday's referendum was that the once-great Queensland Liberal Party, which once had a conscience for the State of Queensland, fell for the Labor Party's two-card trick. The Liberal Party in Queensland now is blinkered; it sees no further than the metropolitan area, even though it does have a member in north­ west Queensland. It is significant that Mr Beard had nothing to do with this referendum. He did not support his leader; nor did he support the people of north and west Queensland, who would have lost eight seats had this foul referendum proposal succeeded. Over the next 12 months, I will be reminding the people of north and west Queensland that the Liberal/Labor coahtion parties sold them out in terms of parliamentary representation. It is fair to ask: what will the dynamic duo of Mr Innes and Mr Goss do now? We have had Mr Goss emerging from the dark tunnel, only to be sent back in there again— by the people. We have had Mr Innes, the Champagne Charlie of Queensland politics, whose cork popped prematurely, being told by the people to put the cork back in the champagne! The people of Queensland and Australia told the Hawke Labor Government and the Liberal/Labor coalition in no uncertain terms that they were not going to be trapped by specious questions. It is fair to say that Mr Goss has cooked his goose and Mr Innes' char-grilled fillet of Aberdeen Angus has not been done to a tum. The actions of the Liberal/Labor coalition since the resounding "No" show that they cannot take the umpire's verdict. They are still threatening to remove representation from north and west Queensland. The referendum on Saturday was the third occasion on which the people of Queensland have voted in some form or other on this issue. Each time the people of Queensland have said "No". When will the Liberal/Labor coalition leam? 440 6 September 1988 Questions Upon Notice I say this to the people of Queensland: my Government—the National Party Govemment—will continue to provide fair representation to all Queenslanders and good Govemment. QUESTIONS UPON NOTICE 1. Study into Illegal Insider Trading Mr HAYWARD asked the Minister for Justice and Attomey-General— "With reference to a report in The Courier-Mail of 1 September which claims that Queensland authorities refused to co-operate with a study into illegal insider trading in Australia, a study which has identified rampant insider trading involving individual cases of up to $23m— (1) Did any State Govemment departments or statutory authorities refuse to co-operate with this important study and, if so, which ones and who authorised the non-co-operation? (2) Will he ascertain which financial authorities, if any, refused to co-operate with the investigation of these scams and seek explanations from them for their non-co-operation?" Mr CLAUSON: (1 and 2) Dr Tomasic and Mr Pentony of the Canberra College of Advanced Education first approached me in August 1987 advising that they were undertaking research into insider trading in Australia. They advised that their project had received strong support from the then Chairman of the Ministerial Council on Companies and Securities, Mr Terry Sheahan, and that the National Companies and Securities Commission had expressed interest in their project. They sought permission to interview officers of the Commissioner for Corporate Affairs. However, in response it was pointed out that the National Companies and Securities Commission had recently issued a Green Paper on insider trading that was receiving attention and that contributions should be directed to the National Companies and Securities Commission. In response, Mr Pentony indicated their research was intended to support consider­ ation of the Green Paper and therefore he sought copies of ministerial statements for a two-year period on regulation of the securities industry. The request for interviews was not pressed. Queensland has always sought to support co-operative efforts by all Australian jurisdictions to regulate companies and the securities industry in Austraha. This co-operative effort is now under threat by the newly discredited Commonwealth Attomey- General, Lionel Bowen, who at the behest of his Commonwealth public servants and with the encouragement of certain big business elements and share-market speculators is seeking to replace the co-operative scheme with total Commonwealth control of companies and the securities industry. The Commonwealth Parliament should heed the voice of the Australian people last Saturday when they said, "No more power to Canberra!" They should now work with other Australian Governments to enable the co-operative scheme to effectively prevent insider trading, instead of trying to destroy the co-operative scheme by failing to implement appropriate reforms. 2. Queensland Industry Development Corporation Mr HAYWARD asked the Premier and Treasurer and Minister for the Arts— "With reference to the Queensland Industry Development Corporation which was set up to 'play a pivotal role in the future development and expansion of Queensland's economic base' and since it has been reported {Daily Sun 14 Questions Without Notice 6 September 1988 441 November 1987) that a '25-page confidential report has recommended sweeping changes to the stmcture and operations of the QIDC— (1) Will he confirm that the QIDC staff have been foUowing normal defined borrowing procedures and that staff have not been pressured into lending moneys? (2) Has the QIDC lent considerable moneys that it will have difficulty in recovering? (3) Have finance companies and banks been able to 'on lend' their doubtful and mbbish loans to the QIDC? (4) In view of the significance of the QIDC to all Queenslanders, will the 'Confidential Report' be made available to this Parliament?" Mr AHERN: (1) The Queensland Industry Development Corporation operates in a fully commercial and professional manner and consequently staff do observe proper commercial lending procedures. (2) Despite stringent pmdential controls, all lending institutions have a certain proportion of loans which prove to be irrecoverable. Information in this regard is reported in the annual report of the corporation. (3) No. (4) I am unaware of the report to which the honourable