Jim Turnour (Leichhardt, Australian Labor Party) Share this | Hansard source

Thank you, Mr Deputy Speaker. I think it is important in this parliament that we have a transparent debate, and I think it is irresponsible that the Leader of the Opposition sought to delay this bill, which is critical to our response to the global financial crisis. I will not apologise and I will not be silenced when I seek to make those points.

The member for Calare may seek to interrupt me because he does not like the community—those in the gallery and those who may be listening to or reading this speech—to know that the Leader of the Opposition, through Liberal coalition senators, sought to delay this legislation. They sought to delay it until next year, denying the market the confidence and transparency that it needs in relation to short selling.

I think it is very appropriate to reflect on the past experiences that members of parliament bring to this place. I come from an agricultural background and I am very proud of it. The reality is that the Leader of the Opposition comes from a merchant banker background. The reality is that merchant bankers created this financial crisis. Their short-term greed created it and the reality, I think, is that there is a bit of merchant banker in the current Leader of the Opposition, which he has brought to this parliament. He is focused on short-term politics in his responses to much of our—

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