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PARLIAMENT OF AUSTRALIA HOUSE OF REPRESENTATIVES Question QUESTIONS WITHOUT NOTICE Budget Thursday, 29 May 2014 Clive Palmer – Member for Fairfax Responder Hockey, Joe, MP Mr PALMER (Fairfax) (14:16): My question is to the Treasurer. As the world knows, the average debt in the OECD— The SPEAKER: The member for Fairfax will resume his seat. The Leader of the Opposition has a point of order? Mr Shorten: The Manager of Opposition Business just wants this Prime Minister to act like a Prime Minister. The SPEAKER: There is no point of order. That is an abuse of the standing orders and the Leader of the Opposition knows it. Mr Pyne: Madam Speaker— The SPEAKER: The Leader of the House will resume his seat and we will have the member for Fairfax ask his question. Mr PALMER: My question is to the Treasurer. As the world knows, the average debt in the OECD for advanced economies is 73 per cent of GDP. According to the OECD and the Parliamentary Library, Australia’s debt is 12.1 per cent of GDP. How can the government justify the repressive measures it has introduced in the budget, including the co-payment for doctor visits, which pensioners, young people and single mothers cannot afford to pay, and the abandonment of young people under 30 years of age? Why doesn’t the Australian government tell the people the truth? Opposition members interjecting— The SPEAKER: There will be silence on my left! Mr HOCKEY (North Sydney—The Treasurer) (14:18): I thank Professor Palmer for his question. I do want to note that, as he would know— Opposition members interjecting— Mr HOCKEY: No, just listen. As he would know, Australia is a net importer of capital. As Professor Palmer would know, we have essentially been a net importer of capital since 1788 because we have a very large country that relies on a lot of foreign investment— Mr Marles: You know he is the crossbench? The SPEAKER: The member for Corio will desist! Mr HOCKEY: such as from China from CIDIC. We rely on foreign investment to develop the mines. We rely on foreign loans in order to build and construct our activity. Every year we import around $40 billion in net terms from the rest of the world to fund our growth. Mr Bowen: Madam Speaker— Mr HOCKEY: No, no. This is an education for you as well, so just listen. The SPEAKER: The Treasurer will resume his seat. The member for McMahon on a point of order. 136 The Last Sentry at the Gate: Clive Palmer & the 44th Parliament of Australia


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