Bob Brown (Tasmania, Australian Greens) Share this | Link to this | Hansard source

To move:

That the Senate—   (a)   notes that:      (i)   the current resources boom is generating enormous wealth from which all Australians should reap the benefits,      (ii)   a sovereign wealth fund could help fund the needs of future generations, as well as seeking to improve budget measures in the immediate budget cycle,      (iii)   approximately 36 countries have sovereign wealth funds which currently manage more than $4.2 trillion worth of assets globally, and      (iv)   a recent statement by the International Monetary Fund called on Australia to establish a sovereign wealth fund to protect the economy from shock falls in commodity prices and 'save revenue to ensure a more equal distribution of its benefits across generations and reduce long-term fiscal vulnerabilities from an ageing population and rising health care costs';   (b)   orders that there be laid on the table, no later than 20 September 2011, a report by the Productivity Commission on the development of a sovereign wealth fund for Australia; and   (c)   requests that the Productivity Commission in preparing its report consider options for the establishment of a sovereign wealth fund in Australia, including:      (i)   regulatory framework,      (ii)   how funds are invested and managed,      (iii)   funding mechanisms,      (iv)   transparency and accountability,      (v)   governance structure,      (vi)   how capital and returns should be utilised, and      (vii) any other related matters.

To move:

That the Senate—   (a)   recognises that the Solwara 1 Project in the Bismarck Sea off Papua New Guinea plans to mine copper and gold at a depth of 1 600 metres and is the world's first deep seabed mining project;   (b)   acknowledges that full-scale undersea excavation of mineral deposits globally has potential to remove parts of the sea floor and damage the ocean's health as a result of leakage, spills and damage caused by increased toxicity and sediment from tailings; and   (c)   calls on the Government to establish an inquiry, to report by 1 October 2011, into seabed mining to assess:      (i)   the level of interest in seabed mining in Australian waters and in waters in the region neighbouring Australia,      (ii)   the potential impact on the marine environment and resources if this industry develops, and      (iii)   the need for regulation or a regional agreement to manage and reduce the potential for this industry to impact on marine productivity.

Guy Barnett (Tasmania, Liberal Party) Share this | Link to this | Hansard source

To move;

That the Senate—   (a)   recognises the provision of affordable medicines through the Pharmaceutical Benefits Scheme (PBS) is central to Australia's health system;   (b)   acknowledges that since its inception, the PBS is an uncapped program;   (c)   agrees that evaluations of pharmaceuticals for listing under the PBS should be transparent, evidence-based and not subject to capricious political interference;   (d)   notes that:      (i)   before recommending medicines for listing on the PBS, the Pharmaceutical Benefits Advisory Committee (PBAC) conducts a rigorous evaluation to determine the comparative clinical and cost effectiveness of the proposed medicine,      (ii)   the three tiers of major applications for PBS listings are designed to promote an efficient government approval process, and      (iii)   positive recommendations by the PBAC have nearly always been approved by the Minister for Health;   (e)   deplores the Government's new policy that:      (i)   despite positive recommendations by the PBAC, all applications for listing will be further scrutinised by Cabinet,      (ii)   listing of medicines can be deferred indefinitely,      (iii)   no new PBS listings will occur unless offset savings are found, and      (iv)   until the budget returns to surplus, these measures will remain in place;   (f)   recognises that:      (i)   in scrutinising applications, the PBAC already determines value for money, and      (ii)   under the Government's new policy, access to medicines will be limited and medications which could improve the treatment of chronic or common conditions will remain financially unaffordable for many Australians; and   (g)   condemns the Government for neglecting the wellbeing of Australians.