Glenn Sterle (WA, Australian Labor Party) Share this | Hansard source

When Senator McGauran so dearly holds to his heart rural and regional Australia, his comments and contributions in this chamber never cease to amaze or amuse me. I am not sure if he had his National Party hat on or that of the mob that he ran across to when he ratted on them. As per normal, what a pack of psychobabble that was from Senator McGauran.

As I looked around the chamber trying to keep interested while I listened to that drivel, I noticed some children up in the gallery. They are who this is all about—our future generations. I want to congratulate Mr Rudd and Senator Conroy for their vision. This is about a nation-building project for the generations to come. Before we get all tied up in the ins and outs of how we dare talk about getting into the Future Fund, let us make no mistake: the stone was cast back in July 2005 when the government, with the help of the doormats—as usual—voted to get rid of Telstra. They could not wait to roll over and get their tummies tickled by selling out Telstra.

It is very important that we analyse what Mr Rudd has put forward. When we talk about $4.7 billion for a national high-speed broadband network, a lot of foresight has gone into this, particularly when we look at the $2.7 billion from the Future Fund. The best part about that vision is that that $2.7 billion will be paid back—the profits will go back into that fund. By the year 2020, that fund will be a $140 billion resource.

I would like to note some of the commentary in today’s media and the overwhelmingly positive reception given to Labor’s plan. It demonstrates once again the ideas and visions that Labor has, unlike the tired, worn-out government on the other side of the chamber. I would like to also make comment about the minister. What an absolute underperformance it was again, if I could use those words. I do not know how—