Senate debates

Tuesday, 24 August 2021


Business Investment

1:38 pm

Photo of Malcolm RobertsMalcolm Roberts (Queensland, Pauline Hanson's One Nation Party) Share this | | Hansard source

[by video link] Later this year we will pass an amazing milestone when an Australian designed and made satellite will be launched into space using an Australian designed and made rocket and launch facility. We now have a domestic end-to-end space capability, creating jobs and injecting new wealth into our economy. Government has not achieved this, private enterprise has, proving once again that governments do not create wealth; free personal enterprise creates wealth. For many years, we led the world in innovation, inventing the refrigerator in 1856, electric drill in 1889, military tanks in 1912, pacemakers in 1928, ultrasounds in 1961 and wi-fi in 1992. But that's where the list ends, 30 years ago. Australia once led the world in patents; now China registers four times the patents per capita that Australia does. This is partly the fault of the big banks, whose tight hold on the capital sector funding for business development is throttling investment, suffocating beneath our banks' greedy obsession with real estate. The government, through its future growth fund, has taken upon itself the role of picking winners and losers amongst start-ups, making private sector growth beholden to government bureaucrats.

Lockdowns have decimated small business and forced medium and large businesses to shelve research and development plans. Australia is going backwards and is losing the ability for citizens to support themselves through their own hard work and enterprise. Reliance on government handouts appears to be a design feature of Prime Minister Morrison's socialist version of Australia. Instead, One Nation will shrink the government to fit the Constitution, we will get government out of the way of free enterprise, we will let the Australian spirit out of [inaudible] to then invent and create to carry this nation forward, even to space. We have one flag, we have one community, we are one nation. The right to raise ourselves up through hard work and enterprise is a freedom that must not be compromised. It must remain.