John Howard (Bennelong, Liberal Party, Prime Minister) Share this | Hansard source

Anyway, let me continue with the narrative. Mr Nutt got in touch with the senator’s office and said: ‘Look, I’ve had a look at the senator’s return, and it’s obvious from the number of investments listed that that doesn’t amount to trading. It is a misdescription and you shouldn’t give the description of “trading” to something that manifestly does not amount to trading.’ And he also, so I am told, said to his equivalent in the senator’s office, to whom he spoke, ‘You’d better check with the minister as to whether the return accurately depicts the situation, and if it does then it seems to me’—and I think this was a reasonable conclusion drawn by Mr Nutt-, doing his job—‘that the description “trading” is inaccurate because of the limited number of investments and that another description would be more appropriate.’ I think Mr Nutt was doing his job. When he looked at the return—and this does rather illustrate the point—as it then was, it did not show the 72 trades.

I know that the dark, sinister mind of the Deputy Leader of the Opposition in these matters will be saying that somehow or other we knew. The truth, let me say it again for the record, is we did not know about those 72 investments until a few days ago. I think what Mr Nutt did back in December was entirely appropriate. And I think the fact that he sought and obtained through the then minister’s chief of staff or relevant adviser an assurance that the register accurately depicted the situation is far from being evidence of some cover-up, conspiracy or failure by my office—quite the reverse.

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