Tony Abbott (Warringah, Liberal Party, Leader of the Opposition) Share this | Hansard source

It would be very valuable to get some facts here. Peter Costello is not just on the board of the Future Fund; he was not just appointed to the Future Fund by a previous Labor Prime Minister of more magnanimity than the current Labor Prime Minister—he created the Future Fund. The Future Fund exists only because of the good economic management of the previous government. That is why standing orders should be suspended so that these facts can be put clearly on the table.

Let us look at the record of Peter Costello: more than two million new jobs, a 20 per cent increase in real wages, a doubling of net wealth for the Australian people—every Australian man, woman and child had his or her net wealth doubled under Peter Costello. Surely, if there is one person who is eminently qualified to chair the Future Fund he created it is the former Treasurer of this country—the greatest Treasurer this country has ever had. He was good enough for Kevin Rudd, the former Prime Minister, to put on the Future Fund. Why isn't he good enough for this inadequate, unworthy, at times embarrassing Prime Minister to put into the chairmanship of the Future Fund?

Let us look at the record and see why standing orders should be suspended. This former Treasurer repaid Labor's debt. He was able to create the Future Fund because he repaid Labor's debt. He turned $96 billion worth of debt into $70 billion worth of net assets. Standing orders should be suspended, because he got Labor's reckless spending under control. He turned a $10 billion budget black hole into consistent $20-billion-a-year budget surpluses. This was a great Treasurer, and that is why he is absolutely the right person to chair the Future Fund that he created. And this is why standing orders must be suspended—so that some of the untruths that have been told by members opposite can be refuted.

Stephen Conroy, who rejoices in the position of Deputy Leader of the Government in the Senate, said today, 'I'd rather put my money under the control of David Gonski any day of the week ahead of Peter Costello.' The coalition is not against David Gonski, but David Gonski himself thinks Peter Costello was a better candidate, which is why standing orders must be suspended. What does it say about members opposite that they think it is their money—that they think the $70 billion of taxpayers' assets put into the Future Fund is somehow their money—to misuse for their politically correct purposes, not for the benefit of the Australian people? Peter Costello was the best Treasurer this country has ever had. That is why he is the right person to chair the Future Fund.

But it was not just Senator Conroy. Senator Cameron was also out there today, saying Peter Costello was a 'failed Treasurer'. Standing orders must be suspended, because if Senator Cameron thinks Peter Costello was a failed Treasurer then what on earth does he think about the current Treasurer? Peter Costello gave us the four biggest surpluses in history. The current Treasurer has given us the four biggest deficits in history. What does Senator Cameron think of the current Treasurer? Senator Cameron went on, in speaking about Peter Costello, to say that 'to give him any senior position would just be an absolute joke'. Hang on: what is he saying about former Prime Minister Rudd, who did give him a senior position—the senior position as a guardian of the Future Fund? Kevin Rudd, the member for Griffith, put Peter Costello on the Future Fund. Senator Cameron said that was an absolute joke, and then Senator Cameron goes around and says Kevin Rudd should be the Prime Minister again. Who is telling jokes now? This is why standing orders should be suspended: maybe Senator Cameron now agrees with the member for Bendigo that in fact the former Prime Minister is a psychopath with a big ego. What does it say about this Prime Minister that 31 people—31 members of the caucus—preferred a psychopath to her?

Let us look at what David Gonski said:

My report says that they wanted an insider. In my report it says that there is one person and I indicated to the department that there was strong endorsement for that person.

And what did the Minister for Finance and Deregulation say? She said that there was no recommendation from Mr Gonski's reports to the government for a particular person to be appointed.

There is a flat contradiction, and standing orders must be suspended, because when we have David Gonski's word on one hand and the word of the Minister for Finance and Deregulation on the other, I think we know who we can believe. Do we believe David Gonski, or do we believe the representative of a government that has been chronically untruthful?

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