Craig Emerson (Rankin, Australian Labor Party, Minister for Trade and Competitiveness) Share this | Hansard source

That was supported by Menzies, so I am saying that they were visionaries in doing that. I think that that is the sort of leadership that is needed.

That sort of leadership was then followed up by Whitlam, with the recognition of China. He said he would do it when he became Prime Minister and he did. It was followed up by Hawke and Keating, and these are the people who have helped to put Australia in the right place at the right time in the Asian region in the Asian century. It is why we are undertaking this very big and ambitious project: the Australia in the Asian century white paper exercise. At the same time there is this rabid behaviour from Senator Barnaby Joyce, who is not some sort of erratic backbencher; he is bound by cabinet solidarity. The fact that he runs around with his anti-China rants tells me one thing—that is, his activities, his behaviour, his language are all condoned and supported by the Leader of the Opposition. If for no other reason—and I could list 25 of them—the opposition leader should never be Prime Minister of Australia. Senator Barnaby Joyce should never occupy a senior position on any frontbench in this country. I believe that from my heart because of all the work that has been put in by previous governments—Liberal, National and Labor governments—to position ourselves in the right place at the right time in the Asian region in the Asian century. So, when you talk about sovereign risk in these debates, look at the sovereign risk that is being created by Senator Barnaby Joyce and condoned by the opposition leader because, in their hearts, the opposition do want to return to a fortress Australia.

You have, on this side of the parliament, a visionary political party. The Treasurer and Deputy Prime Minister said, 'We're the progressives; we do the big changes; we do the important changes for Australia's future.' On the other side are the reactionaries. You have the shadow treasurer coming in here with a hangdog look and saying, 'Look; I've found a negative quote. Oh, this is terrible. Oh, here's another negative quote.' Well, look at what they do rather than what they say. They fall over themselves to invest in shares. Look at what the ratings agencies say: Australia is AAA rated for the first time in its history. Look at what investors are actually doing. You have got Shell; you have got Woodside. You have got major projects here. You have got an investment pipeline of more than $900 billion. Investment as a share of GDP is set to rise to 30 per cent compared with 20 per cent for the rest of the OECD, all great news for Australia, all because people know that under this government the environment is right to invest in this country. Yes, of course we take advantage of our proximity to China but that is not through good luck; it is through good management, through visionary management. We will continue that. We will continue to say yes to responsible economic policy while they continue to say no to everything. (Time expired)

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