Barnaby Joyce (New England, National Party) Share this | Hansard source

You'll never see a greater example—amongst a whole range of equivalents—of the destruction of this government than in light of one of the biggest frauds: $1.2 billion has been swindled from nearly 12,000 people through the Shield and First Guardian master funds. I say to the people of New England: if you are in these funds, check your balance sheets. People have woken up to find there is no money left.

Yet the government hasn't asked one question about it today—not one. Not one reflection on what's happening to these people. These people are at their wits' end; their whole savings are gone. They are penniless in their retirement, and we have to work out how we're going to help these people. There are 40 investigators now looking at this—40 investigators too late. They should have been picking this up before these people were ripped off, and now it has turned up in safes full of cash and jewellery and all manner of things and monies flown overseas.

So where do we find the money for these Australians who have been swindled out of their money? I think you can find it in Australia's biggest swindle, which is net zero, and the billions and billions and billions of dollars being paid to domestic billionaires and overseas companies. When are we going to get our priorities right, start looking after Australians and get our eyes on the main game?

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