Bob Baldwin (Paterson, Liberal Party, Parliamentary Secretary to the Minister for Industry, Tourism and Resources) Share this | Hansard source

There is no doubt that iron ore is a huge export earner for Australia. By the same token, there is no denying that the ACCC was set up to be a first port of call to look at issues pertaining to the Trade Practices Act and competition. If the ACCC finds that it cannot reach a clearly identifiable solution to the problem, it is then for the ACCC to make recommendations to the government should there need to be changes. But I think what we will do in this situation is allow the authority that we invested to look at this situation and provide a response to government so that the government can then take further action.

This government does not shoot from the hip when it comes to providing solutions. We establish legal frameworks so that people have security in making investments, knowing that there are set pieces of legislation that governments will adhere to. If we were to keep jumping and hopping around and there was no security through legislation, what impact does the member for Batman think that would have on investment in Australia?

I accept that iron ore is a big earner for Australia. There is an opportunity to increase our exports from this nation. But we will not be the government that shoots from the hip and makes ad hoc decisions without reviewing them through the processes that have been used by governments since time immemorial in this place to review things with adequacy and impartiality.

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