House debates
Thursday, 29 May 2008
Prime Minister
Censure Motion
9:37 am
Malcolm Turnbull (Wentworth, Liberal Party, Shadow Treasurer) Share this | Hansard source
That’s right. He’s a champion for the butler! Let us have a look at what big oil says. Michael Luscombe is the CEO of Woolworths. That is a big oil retailer. Remember, chief executives of public listed companies are under enormous legal regulation about what they say about the affairs of their companies. If they say things that are wrong the consequences are huge—penal, incredibly damaging to them, their companies and their reputations. So they choose their words very carefully, much more carefully than the Prime Minister chooses his. This is what Mr Luscombe said:
Look, we provided the government with some information that showed quite frankly the inability to actually match the lowest price in the market place in Western Australia during the day has meant that our margins in Western Australia are stronger than most, if not all, other states.
So, thanks to FuelWatch, Woolworths make more money in Western Australia than in any other state.
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