Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

My question is to be Minister for Finance, Senator Cormann. I refer the minister to his press conference on 4 February where he said the government 'had all the facts before us' in relation to SPC Ardmona. I also refer him to the Prime Minister's false claims, that have since been corrected by SPC, that SPC employees enjoy a range of allowances, loadings and working conditions. Was it these false claims which where the so-called facts that led the government to reject SPC's request for assistance?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

I thank Senator Cameron for that question. Let me just say at the outset that the government stands by all of the claims that the Prime Minister and other ministers have made in relation to these matters. None of the claims were false whatsoever.

Let me just make a broader point to the chamber. What was before the government was a request from a business owned by Coca-Cola Amatil, a business with a $9 billion market capitalisation and which made an after-tax profit of more than $200 million in the first six months of this financial year. It asked the Australian government to make a grant in support of a commercial investment, using taxpayers' money for that purpose. We had a company which had the cash to make its own investment decisions, which had the wherewithal to make the investment decisions it thought were necessary in pursuit of its commercial objectives, asking for money from the government which, as a result of the mismanagement of the previous Labor administration, actually does not have the cash. We have inherited a budget from the Labor Party which is in a complete mess. We have inherited $123 billion worth of cumulative deficits.

Senator Wong interjecting—

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

Mr President! Senator Wong should withdraw that unparliamentary remark.

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

Order! Senator Wong, you will need to withdraw that.

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

I am simply reprising the member for Murray, Senator—

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

No, it was—

Penny Wong (SA, Australian Labor Party, Leader of the Opposition in the Senate) Share this | Link to this | Hansard source

I withdraw.

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

And it would help if there were silence on both sides. Senator Cormann, continue.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Thank you very much, Mr President. The government did have all of the facts in front of it. In all of the circumstances before us, we decided that it was not appropriate to provide taxpayers' money in support of this commercial investment. It is not the job of the taxpayer to provide gifts to very profitable companies like Coca-Cola Amatil to help them achieve a higher return than they otherwise would. It is not the job of the Australian taxpayer. This government has put a clear line in the sand. The previous government spent money willy-nilly. They did not treat taxpayers' money with respect. This government does it differently. (Time expired)

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

No wonder the Nationals have got their heads buried in their hands!

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

Order! Ask the question.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Was the government made aware of the fact that SPC Ardmona and its employees had negotiated major changes to working conditions, a fact which was confirmed in the statement by SPC Ardmona last week? If the government was not made aware of this fact, can the minister advise what steps have been taken to correct the factual basis on which the government took the decision? And will the government reverse this decision and save the jobs of workers— (Time expired)

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Senator Cameron clearly did not listen to a word of my answer—or he is just reading out the question that was provided to him by the tactics committee without changing his supplementary question? Let me just say it again: we had all of the facts in front of us and we made an informed decision not to provide an ad hoc grant from the taxpayer to a company like Coca-Cola Amatil. We made that decision—

Opposition Senators:

Opposition senators interjecting—

The PRESIDENT: Order! Senator Cormann, resume your seat. If those on my left wish to debate the issue, the time for that is after three o'clock. Senator Cormann, continue.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Thank you very much, Mr President. We had before us a request from a business owned by Coca-Cola Amatil with a $9 billion market capitalisation, with a strong balance sheet, with all of the cash reserves required to make the investment in SPC Ardmona if that is what they thought was the appropriate thing to do. The government made an informed decision that it is not appropriate for the taxpayer to cross-subsidise these sorts of commercial investments by profitable private companies—and the government will not be changing the decision that we made.

Doug Cameron (NSW, Australian Labor Party, Shadow Minister for Human Services) Share this | Link to this | Hansard source

Given it is clear that either the facts about SPC Ardmona were either not before government or it chose to ignore them, wasn't the Liberal member for Murray correct in saying that the Prime Minister's attempt to scapegoat workers at SPC Ardmona is 'just rubbish', 'a witch-hunt', 'a furphy', 'not the truth', 'a distraction from the facts which would require some government action' and it is 'lying'?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Senator Cameron is clearly not very agile on his feet, because he clearly does not have the capacity to adjust his pre-drafted supplementary questions as the answers evolve to his previous questions. For his benefit, let me say it again: the government made a very conscious decision that it is not appropriate for the taxpayers to be asked to provide a gift to a profitable company, like Coca-Cola Amatil, for them to make investments in businesses they own. It is a matter for Coca-Cola Amatil to decide what investments they think are appropriate to make in a business like SPC Ardmona. That is a very conscious decision we made.

Just imagine if every business across Australia considering commercial investments ended up having a reasonable expectation that the taxpayers would help them reach their target for the internal rate of return they are seeking. It is not appropriate and it is not the way this government treats taxpayers' money. We will treat taxpayers' money with respect.