David Leyonhjelm (NSW, Liberal Democratic Party) Share this | Hansard source

The International Monetary Agreements Amendment (New Arrangements to Borrow) Bill 2017 allows the Treasurer to borrow $4 billion on which we will pay interest at around 2½ per cent so that the Treasurer can lend it to the International Monetary Fund and receive interest at 0.4 per cent. Let me repeat that: the bill before us today allows the Treasurer to borrow $4 billion on which we will pay interest at around 2½ per cent so that the Treasurer can lend it to the IMF and receive interest at 0.4 per cent. As you can see, I am almost alone here in the Senate. Almost no-one else has any concerns about this lunacy. Once I sit down, the minister will speak for about 30 seconds, and 30 seconds after that the bill will have been passed by the parliament, through indifference. Minister, you've had your introduction. Let the madness begin.