Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Hansard source

Thank you, Senator Pocock for your question. Coming back to your preamble, I don't know how I am going to explain to you, but you are simply wrong in your—

You are simply wrong in your analysis.

Senator Pocock, I will put my arguments against yours any day of the week. I actually think the Australian population will have come to the conclusion that too much money is being spent on elections. They will know this government and the opposition and anyone else who now chooses to come on board—there is still time to come on board—are putting downward pressure on the cost of elections. Can I refer to that great American president, President Biden. In his final speech, he talked about the oligarchy of the billionaires controlling the American political system. I hate to say it, but that's the direction that our system is heading. It doesn't matter whether you're a conservative-aligned billionaire or a progressive-aligned billionaire, we can't have a situation where the only people who get elected to this parliament are people who are supported by billionaires. It just can't work for democracy. What I'm saying to you, Senator Pocock, is this is incontrovertible. This is a plain outright fact: at the next election, when this legislation applies, the major parties will have cut their ability to spend money by 30 per cent. This is not a bill that increases the advantage of the major parties but a bill where major parties are cutting back.

Well, it's the truth.

Honourable senators interjecting—