Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

Mr President, I ask a supplementary question. I do not know about ‘socialist mantra’ but we do know about your capitalist incompetence. Is the minister also aware of comments by Telstra CEO, Sol Trujillo, that a decision to dump Telstra into the Future Fund would be bad policy, bad for shareholders and it would create a ceiling for where a share price could go? Isn’t Mr Trujillo right when he says that the dumping of Telstra into the Future Fund would be bad for shareholders, who are already reeling from significant losses—from $7.40 to $3.60 per share? Why is the minister intent on pursuing a policy that will dud Telstra shareholders? Isn’t this what the Prime Minister said he did not want to do?