Bob Katter (Kennedy, Independent) Share this | Hansard source

And the ALP is on 30 per cent, and we people sitting here are also on 30 per cent. So laugh now, my friend, but future generations of Australia will remember that you sat there laughing while someone told this parliament that we need a secure supply of oil. It can be produced tomorrow for negligible government outlay.

I might add that, when they say we have to have foreign investment in Australia, I'd like to know why. I speak with authority, because I was one of the two people running Queensland at one stage. The great Sir Leo Hielscher—two of the four biggest bridges in Australia are named after Leo Hielscher—said, 'It's just money.' When we're talking about development—made money—he says, 'It's just money.' Of course it is, but you want to spend all your money building ring roads around Sydney and Melbourne and tunnels in Brisbane and not on development. $25 billion of superannuation money is going offshore into the American stock market, which is nothing more than a gambling casino. In the good old days, 60 per cent of all superannuation moneys went into government securities, which then went into building dams, railway lines and ports. (Time expired)

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