House debates

Monday, 13 February 2023

Statements by Members

National Reconstruction Fund Corporation Bill 2022

3:59 pm

Photo of Sophie ScampsSophie Scamps (Mackellar, Independent) Share this | Hansard source

I recently conducted a survey of Mackellar, and it shows that integrity in politics is still the second most important issue for my electorate. Since the last election, parliament has successfully introduced the National Anti-Corruption Commission, which is an incredible achievement, but this is only the start when it comes to building integrity into our political system. Australians deserve to be able to trust not only their politicians but also the institutions that underpin our democracy and the decisions that stem from them. As the Grattan Institute reveals, all too often government institutions are stacked with party-friendly appointments made at the discretion of the relevant minister.

As an Independent member of parliament, I believe it is my job to hold this government to account. The National Reconstruction Fund Corporation Bill 2022 is soon to be introduced. I support this important initiative as it will help transform and futureproof Australia's industry and economy. However, one aspect of the bill troubles me. The government tells us that the National Reconstruction Fund Corporation will be managed by an independent board. This board will be charged with making $11 billion of investment decisions over several years. But what does it mean when the government says the board will be 'independent'? How will board members be appointed? Clause 18 of the proposed bill states, 'Board members are to be appointed by the ministers by written instrument—

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