Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Evans. Does the Australian government intend to commit taxpayer funds to the IMF or other parties in order to help bail out Greece from its financial difficulties? At a time when the Labor government is still borrowing more than $100 million every day to pay for its own wasteful spending, how much taxpayer money is the Labor government prepared to commit to the Greek bailout?

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

I understand the Prime Minister made some comments on her arrival at the G20 meeting. I just caught those on television earlier this morning.

Senator Wong interjecting—

Senator Cormann interjecting—

John Hogg (President) Share this | Link to this | Hansard source

It will make it easier for all of us if people remain silent. When there is silence, we will proceed.

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

The Prime Minister, I think, made it clear that she was prepared to continue to support the IMF, as Australia has always done. A bipartisan approach to support the work of the IMF has been important for the global economy. The Prime Minister indicated that she would continue to be open to supporting the IMF but had not agreed to any specific amount of extra funding and that would be a question that would be considered at the G20. This is not money to support the European bailout, but we do make it very clear that we understand—despite the strength of the Australian economy, despite the record mining investment, despite the fact that we have among the lowest unemployment rates in the industrialised world—that we are part of a global community, that the events occurring overseas do impact on us, that the instability in the European economies is an issue for Australia. We made it very clear, though, that Europe have got to get their house in order. They have got to clean up their problems, and we have encouraged them strongly to take action. I think we have been very strong in our statements and our representations to make sure they do that. We are not putting money into the European rescue fund, but we are supporting the IMF. We are supporting the important role that they play, and I would hope the opposition continue to have a commitment to the IMF, as they used to when they were economically responsible. (Time expired)

Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

Mr President, I ask a supplementary question. Will the Australian contribution to the Greek bailout be by way of a loan or a grant? If by way of a loan, what arrangements are being put in place to ensure it is repaid?

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

I gather this is another cheap trick by Senator Cormann to try and confuse our contribution to support the IMF and some European bid to bail out Greece. This is the sort of low-rent politics that Senator Cormann has become famous for. He is prepared—

Opposition Senators:

Opposition senators interjecting—

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

He is very famous in the WA Liberal Party for that—the new Noel Crichton-Browne. But this is an important issue. Is the opposition, the alternative government in this country, now seeking to trash the IMF and trash Australia's contribution to the IMF? This absolutely represents the end of any claims to economic responsibility—that the shadow Assistant Treasurer would come in this place and seek to undermine the work of the IMF and seek to undermine Australia's contribution to it. I am astounded. I did not know you could get that low and that you could so much abandon your economic credentials. I am shocked. (Time expired)

Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

Mr President, I ask a further supplementary question. What conditions, if any, will the Australian government place—

Honourable Senators:

Honourable senators interjecting—

John Hogg (President) Share this | Link to this | Hansard source

When there is silence on both sides, we will proceed. I need to hear the question.

Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

Thank you, Mr President. It would be helpful if the minister could actually answer a question, rather than just go for the political abuse.

John Hogg (President) Share this | Link to this | Hansard source

Senator Cormann, to the question.

Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

What conditions, if any, will the Australian government place on the contribution by Australian taxpayers to the Greek bailout?

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

Senator Cormann does not care, because he will put out the same press release whatever I tell him. The press release will be 'Labor bankrolling Greek bailout' or something of that nature. It will be some xenophobic response that seeks to say that a commitment to global economic certainty is the wrong thing to do. The opposition ought to join the serious economic debate, rather than try this sort of stunt.

Mathias Cormann (WA, Liberal Party, Shadow Assistant Treasurer) Share this | Link to this | Hansard source

Mr President, I rise on a point of order related to the requirement for the minister to be directly relevant. I have asked some very specific questions, asking the government to be accountable about some decisions that they are clearly about to make. Other than political abuse and rhetoric, we have not had anything from the minister that comes anywhere near what conditions, if any, the Australian government will place on the contribution by Australian taxpayers to this Greek bailout. There is a very specific set of answers that can be provided to this. All we have had from the minister is political abuse.

John Hogg (President) Share this | Link to this | Hansard source

There is no point of order. The minister has 30 seconds remaining.

Chris Evans (WA, Australian Labor Party, Leader of the Government in the Senate) Share this | Link to this | Hansard source

Those who are interested will learn, when the government makes an announcement about any increased contribution to the IMF, what the details of that contribution and the conditions attached to it are. But I know one thing: Senator Cormann and the Liberal Party will not be interested. They will not be interested in those issues. They will only be interested in the sort of cheap politics that Senator Cormann is heading down the road of again. The global economy is important to Australia. (Time expired)