Jessica Collins (NSW, Liberal Party) Share this | Hansard source

I rise to speak in favour of my good colleague Senator Cadell and the senator's motion to refer to the Economics References Committee an inquiry into the impact of foreign influence in Australia's critical infrastructure sectors. Australia's critical infrastructure is not just an economic asset. It is the backbone of our national sovereignty. It underpins our energy security, water security, communications, supply chains and the functioning of everyday Australian life. In an increasingly uncertain world, this parliament has a clear responsibility, and that is to protect Australians from those who would do us harm. We must ask whether our existing safeguards are strong enough, and we must be honest about the risks we face. This Labor government has its head in the sand on national security, and Australians are paying the price.

We live in a time of heightened strategic circumstances: war in Europe, conflict and tension in our region, pandemics that shut borders that cripple supply chains, and natural disasters that strain energy, transport and communication systems. These events have taught us one clear lesson: resilience cannot be piecemeal; it must be whole of government and it must be built into our economy, our infrastructure and our decision-making. A resilient nation needs an advanced and diverse economy that can withstand shocks, one that can keep food moving, power flowing and communications running when it matters most. Critical infrastructure assets are fundamentally different from ordinary investments. Sovereign ownership and oversight of these assets are key to our resilience. That is why these assets require a higher level of scrutiny and that is what this inquiry would do.

It is against our national economic security to vote against this motion. Let that be a message for the Australians watching. Those acting on your interest will be on one side of the chamber and those against it, the other. Australia has benefited greatly from productive international investment and this inquiry is not about opposing that. Foreign investment has helped build our economy but it must align with Australia's long-term national interest. According to ASIO's annual threat assessment, foreign interference and espionage are now at unprecedented levels. Corporate espionage is at an all-time high, with foreign adversaries attempting to infiltrate our institutions and industries at unprecedented levels. They have surpassed terrorism as Australia's principal security concerns. That is a reality we cannot ignore. Australians expect us in this and the other place to be proactive, not complacent. Political or economic convenience cannot come ahead of national security, and I implore those opposite to act in the interests of Australians, not our adversaries. When it comes to food production, freight, energy and communications, we must legislate defensively and act responsibly. There is no better time for this conversation as we face fuel and fertiliser pressures, global instability and increasing competition for essential resources.

It is a core responsibility of government to protect Australians, and that protection must be across the whole of government, private sector and with industry partnership. To walk away from that responsibility is to abandon the public interest. The coalition understands this. When in government the coalition passed several key pieces of legislation to secure our critical infrastructure. But the work is not done, and the threat environment continues to evolve. That is why we are committed to sovereign resilience, and that is why only the coalition has a portfolio dedicated to this task and why only the coalition has put this inquiry to the Senate. Foreign investment is vital to our economy but, without scrutiny, Australians will be taken advantage of, and that is why I support this motion and ask all other senators to do so too.