Bill Shorten (Maribyrnong, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Is the Prime Minister aware that the Commonwealth Director of Public Prosecutions advised Senate estimates that the Serious Financial Crime Taskforce is being abolished? Is the Prime Minister, seriously, abolishing the Serious Financial Crime Taskforce right in the middle of the royal commission into the banks?

Kelly O'Dwyer (Higgins, Liberal Party, Minister for Revenue and Financial Services) Share this | Link to this | Hansard source

I thank you, Mr Speaker, for the call, and I thank the Leader of the Opposition for the question.

I'd like to point out that what he has stated is simply not correct. The government is aware that the funding of the taskforce runs to 30 June 2019, which is more than a year into the future. Responsible governments address funding of programs in the context of budget preparations, so you would anticipate that we would look at the funding in the next budget preparation. Can I point out that when it comes to the Serious Financial Crime Taskforce, it didn't exist under the Labor government! It was established under the coalition government; it was established and funded under our government. And let me tell you: it has achieved some very, very good outcomes.

It was established to investigate and track down serious financial crime, and to prosecute those people who break the law. As at February 2018, since the establishment of this task force, we have seen it complete 740 audits and reviews; it has raised tax liabilities of more than half a billion dollars; it has collected more than $200 million in cash; and it has resulted in four people who have received custodial sentences. There are currently 29 criminal, civil and intelligence operations in progress under the Serious Financial Crime Taskforce that we have established.

I know that those opposite like to fabricate—they like to doctor the facts—but they cannot doctor this: it is funded and it will continue to be funded in the normal course of budget arrangements.