Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

On the contrary, the situation that we have just experienced is evidence of this government’s very high standards. As I said before, ours is the first government to have a ministerial code of conduct. The resignation of Senator Santoro is a reflection of the fact that this government, under Prime Minister Howard, insists on the highest standards from its ministers, and if they fail to meet the standards—to wit, the declaration of pecuniary interests—then the consequences are that they must leave their jobs. As I say, Senator Santoro’s crime—for want of a better word—is that he failed to declare his pecuniary interest, to wit, share trading. It is not ruled out by either the Senate register or the code of conduct that senators or ministers can own shares in Australian companies. Indeed, this government has spent much of its period in office encouraging Australians to participate in share ownership. That is the accusation. The accusation being made is that you should not own shares. That is a nonsensical position for the opposition to adopt. (Time expired)