House debates Questions without Notice

Prime Minister

Wednesday, 30 November 2016 House of Representatives

Brendan O'Connor

Brendan O'Connor Gorton, Australian Labor Party, Shadow Minister for Employment and Workplace Relations

3:12 pm

My question is to the Prime Minister. Yesterday in question time the Prime Minister said the reason he sold out of a Cayman Islands 'vulture fund' was that his investment adviser told him to. Can the Prime Minister confirm that the fact the vulture fund profited from the suffering of vulnerable people was not a consideration, and is this why the Prime Minister stubbornly refuses to sell his investments in 7-Eleven, a company which is notorious for exploiting workers?

Mrs Sudmalis interjecting—

Tony Smith

Tony Smith Speaker

The member for Gilmore will cease interjecting.

Malcolm Turnbull

Malcolm Turnbull Wentworth, Liberal Party, Prime Minister

I addressed this issue yesterday, but I am reminded by the question from the honourable member that, unless he has made some changes recently, his own members' interests disclosure does not disclose where his superannuation is invested at all. Of course, if it is invested, as I suspect it might be, in Cbus, then he would know that that fund has many investments in funds that manage distressed assets. But perhaps what the honourable member should do is update his entry in the Register of Members' Interests so that he actually discloses where his superannuation is invested.