Stephen Conroy (Victoria, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Hansard source

I would like to add my contribution to the debate by saying that I have never before in my life heard anything so preposterous as the reason being put forward to oppose this amendment—except that I have. About 10 or 15 years ago the Greens, the Democrats and Labor put up amendments to ensure that companies were required to disclose the salaries of their chief executives and top five or 10 employees so that shareholders knew. Do you know what the argument was all those years ago? There will be mass kidnappings! After 15 years or so of this debate, Senator Muir, I can promise you that there have been no kidnappings. I can promise you that if you have fallen for this, I have a Harbour Bridge I would like to sell you! Seriously, this is the same rubbish they trotted out to protect their corporate mates 15 years ago. Tragically, I have now had to listen to this twice.

I would say to Senator Muir, Senator Xenophon and other crossbench senators who are accepting these arguments that last time a majority of the Senate said, 'We don't believe you,' and we supported and moved an amendment that gave shareholders an opportunity to know what was being paid to their chief executives. This was fought by the Business Council and the big end of town and they kicked and screamed. And guess what? They have been at it again. They have even bothered, in the digital age, to set up a couple of fronts—what a classic—to pursue their interests. This should be seen for the fraud that it is in terms of the activity of pretending that there is a groundswell of support opposed to disclosing this information. This should be seen as a 'fraud for kidnappings'. Fair dinkum. I am not joking. They actually used kidnappings 15 years ago and, fortunately, the crossbenchers at the time did not fall for it. So I urge those of you who have been involved in this debate: please do not fall for it again. Do not fall for this. This is complete rubbish designed for one purpose and one purpose only: to continue to conceal valuable information that allows the public to make judgements.

The mob on the other side thinks it is okay to put your assets in companies through the Cayman Islands, like Mr Turnbull puts his assets through the Cayman Islands and then wants ordinary Australians to pay a GST on food at 15 per cent. What an outrage. They want to protect their mates at the big end of town 10 times out of 10. They will not do the job of fixing the revenue base in this country. They will not do the job. They come up with mealy-mouth legislation, they cannot give a forecast of how much money they will actually get and they want to come in here and then try to make Australians pay a tax on food—a GST of up to 15 per cent. How about we start getting some honesty in the tax system? How about we start getting some disclosure in the tax system so that Australians can judge who is paying their fair share—whether Australians think it is okay to run your assets through the Cayman Islands, whether you are a company or Mr Turnbull, or you have to pay—