❓ Question regarding the Minister's concern about mergers and acquisitions in the WA resources industry. The Minister expresses concern and raises issues of ethical conduct within the industry, media, and parliament, specifically referencing Hon Shelley Archer.
AnsweredQoN 710Legislative Assembly
QuestionView source ↗
RESOURCES
INDUSTRY - MERGERS AND ACQUISITIONS
710. Mrs C.A. MARTIN to the Minister for State Development:
Is the minister concerned about ongoing media reports of
mergers and acquisitions within the Western Australian resources industry?
INDUSTRY - MERGERS AND ACQUISITIONS
710. Mrs C.A. MARTIN to the Minister for State Development:
Is the minister concerned about ongoing media reports of
mergers and acquisitions within the Western Australian resources industry?
AnswerView source ↗
I am concerned by both the
substantive issue and by the media reports. Of course, there is tremendous growth in the state's resources
sector at this time, which is bringing new players into the industry. It is also creating an expansion of merger
and acquisition activity. As we go
through this period of growth we face some risks. In past booms in Western Australia there has
been inappropriate and improper commercial and market behaviour. There has been inappropriate media and
political behaviour. I think it is
important at this time for the reputation of the state that action be taken to
uphold standards in all those areas. I
think in particular that financial journalists need to be careful when they are
writing about these matters that they are not engaged in conflicts of interest,
either with their own interests or with the interests of their families. Financial journalists need to be careful that
they do not act as unwilling pawns of commercial interests seeking improper
gain. Likewise, members of Parliament
have to be careful not to be drawn into improper behaviour, as Hon Shelley
Archer has been drawn into improper behaviour through her probably unwitting
involvement in what I regard as an extortion plot against Rio Tinto. When commercial, media or political people
transgress, it is very important that action be taken to uphold standards. We have been having a debate in this
Parliament about that action. Sometimes
to uphold standards we need the exercise of strong leadership. We are seeing the exercise of strong
leadership from the Premier but we are not seeing it from the Leader of the
Opposition.
Ms S.E. Walker interjected.
The
SPEAKER : I think I have heard
the member for Nedlands ask that question about 20
times today. I call her to order for the
first time.
Mr E.S. RIPPER : We need to
have leadership from both sides of the house on the question of parliamentary standards. It must be put above
politics. We must have that leadership
from both sides of politics, otherwise it is impossible to legitimately and
effectively enforce the maintenance of standards. We have had flip-flopping from the
opposition. The Leader of the Opposition
told The West Australian in March
that, morally, Hon Shelley Archer has shown that she does not have the
principles required of a person holding public office. Remarkably, on that matter the Deputy Leader
of the Opposition had a rare moment of loyalty to his leader. He told ABC radio at the same time that if
people are serious about standards in government, they need to take action on
Hon Shelley Archer. However, the smoke
signals from the upper house are not encouraging. Last night the Leader of the Opposition in
the upper house, the real ruler of the Liberal Party it would appear, asked why
the Premier was so prepared to jettison natural justice in the case of Hon
Shelley Archer and Hon Anthony Fels. All
the signs are that the upper house conservatives will not support the required
expulsion action against Hon Shelley Archer and Hon Anthony Fels. They need leadership. Hon Norman Moore and Hon George Cash need to
be given some leadership. The man
responsible for giving that leadership is the Leader of the Opposition in this
place.
Mr C.J. Barnett : You are making it up as you go along.
The SPEAKER : Order! I call the member for Cottesloe to order for
the second time.
Mr E.S. RIPPER : The Leader
of the Opposition must take responsibility for his entire party. He is not merely the leader of the Liberal
Party in the lower house; he is the leader of the Liberal Party, and the
Liberal Party is represented in both houses. Surely there are not two separate parties: one Liberal Party in the
lower house led by the member for Warren-Blackwood and one Liberal Party in the
upper house led by Hon Norman Moore. Is
that the position we have? We will not
have a confession from the Leader of the Opposition that that is the position,
will we?
Mr A.J. Carpenter : I think it is the position.
Mr E.S. RIPPER : Yes, I fear it is the position. If we are to see parliamentary standards,
commercial sector standards and media standards upheld, strong leadership in
all those sectors is required.
Mr C.J. Barnett : Tell the truth. You might find it refreshing.
Mr E.S. RIPPER : Tell the truth, member
for Cottesloe? He might tell Hon Norman
Moore the truth about the necessity to uphold standards. He should tell him what is required to be
done. He should tell him to stop giving
the community the impression that nothing will be done when there is a serious
transgression of parliamentary privilege in the context of an extortion
plot.
substantive issue and by the media reports. Of course, there is tremendous growth in the state's resources
sector at this time, which is bringing new players into the industry. It is also creating an expansion of merger
and acquisition activity. As we go
through this period of growth we face some risks. In past booms in Western Australia there has
been inappropriate and improper commercial and market behaviour. There has been inappropriate media and
political behaviour. I think it is
important at this time for the reputation of the state that action be taken to
uphold standards in all those areas. I
think in particular that financial journalists need to be careful when they are
writing about these matters that they are not engaged in conflicts of interest,
either with their own interests or with the interests of their families. Financial journalists need to be careful that
they do not act as unwilling pawns of commercial interests seeking improper
gain. Likewise, members of Parliament
have to be careful not to be drawn into improper behaviour, as Hon Shelley
Archer has been drawn into improper behaviour through her probably unwitting
involvement in what I regard as an extortion plot against Rio Tinto. When commercial, media or political people
transgress, it is very important that action be taken to uphold standards. We have been having a debate in this
Parliament about that action. Sometimes
to uphold standards we need the exercise of strong leadership. We are seeing the exercise of strong
leadership from the Premier but we are not seeing it from the Leader of the
Opposition.
Ms S.E. Walker interjected.
The
SPEAKER : I think I have heard
the member for Nedlands ask that question about 20
times today. I call her to order for the
first time.
Mr E.S. RIPPER : We need to
have leadership from both sides of the house on the question of parliamentary standards. It must be put above
politics. We must have that leadership
from both sides of politics, otherwise it is impossible to legitimately and
effectively enforce the maintenance of standards. We have had flip-flopping from the
opposition. The Leader of the Opposition
told The West Australian in March
that, morally, Hon Shelley Archer has shown that she does not have the
principles required of a person holding public office. Remarkably, on that matter the Deputy Leader
of the Opposition had a rare moment of loyalty to his leader. He told ABC radio at the same time that if
people are serious about standards in government, they need to take action on
Hon Shelley Archer. However, the smoke
signals from the upper house are not encouraging. Last night the Leader of the Opposition in
the upper house, the real ruler of the Liberal Party it would appear, asked why
the Premier was so prepared to jettison natural justice in the case of Hon
Shelley Archer and Hon Anthony Fels. All
the signs are that the upper house conservatives will not support the required
expulsion action against Hon Shelley Archer and Hon Anthony Fels. They need leadership. Hon Norman Moore and Hon George Cash need to
be given some leadership. The man
responsible for giving that leadership is the Leader of the Opposition in this
place.
Mr C.J. Barnett : You are making it up as you go along.
The SPEAKER : Order! I call the member for Cottesloe to order for
the second time.
Mr E.S. RIPPER : The Leader
of the Opposition must take responsibility for his entire party. He is not merely the leader of the Liberal
Party in the lower house; he is the leader of the Liberal Party, and the
Liberal Party is represented in both houses. Surely there are not two separate parties: one Liberal Party in the
lower house led by the member for Warren-Blackwood and one Liberal Party in the
upper house led by Hon Norman Moore. Is
that the position we have? We will not
have a confession from the Leader of the Opposition that that is the position,
will we?
Mr A.J. Carpenter : I think it is the position.
Mr E.S. RIPPER : Yes, I fear it is the position. If we are to see parliamentary standards,
commercial sector standards and media standards upheld, strong leadership in
all those sectors is required.
Mr C.J. Barnett : Tell the truth. You might find it refreshing.
Mr E.S. RIPPER : Tell the truth, member
for Cottesloe? He might tell Hon Norman
Moore the truth about the necessity to uphold standards. He should tell him what is required to be
done. He should tell him to stop giving
the community the impression that nothing will be done when there is a serious
transgression of parliamentary privilege in the context of an extortion
plot.
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