❓ Question regarding potential breaches of the Ministerial Code of Conduct by two ministers actively trading shares. Premier deflects, accuses opposition of leaking the story, and defends ministers' compliance, but concedes a review of the code is warranted.
AnsweredQoN 621Legislative Assembly
QuestionView source ↗
MINISTERIAL CODE OF CONDUCT — SHARE TRADING
621. Mr B.S. WYATT to the Premier:
I refer to revelations in The
West Australian yesterday that two ministers, Hon Kim Hames and Hon John
Castrilli, have been actively trading in shares while holding ministerial
office.
(1) Is the
Premier personally satisfied that nothing inappropriate occurred in relation to
the purchase and sale of the shares?
(2) If so, has
he reached the conclusion by personally discussing the matter with ministers
Hames and Castrilli, and what did they say?
(3) If not,
how has he reached that conclusion?
(4) Can the
Premier explain why ministers trade in highly speculative mining shares, some
of which rose substantially in value following the ministers' purchase?
621. Mr B.S. WYATT to the Premier:
I refer to revelations in The
West Australian yesterday that two ministers, Hon Kim Hames and Hon John
Castrilli, have been actively trading in shares while holding ministerial
office.
(1) Is the
Premier personally satisfied that nothing inappropriate occurred in relation to
the purchase and sale of the shares?
(2) If so, has
he reached the conclusion by personally discussing the matter with ministers
Hames and Castrilli, and what did they say?
(3) If not,
how has he reached that conclusion?
(4) Can the
Premier explain why ministers trade in highly speculative mining shares, some
of which rose substantially in value following the ministers' purchase?
AnswerView source ↗
(1)–(4) I thought the Leader of the Opposition might
have asked this question.
Ms L.L. Baker : Did
you?
Mr C.J. BARNETT :
Yes. But perhaps he is trying to hide from it.
Mr B.S. Wyatt :
Well, I have—so come on, answer the question.
Mr C.J. BARNETT : I
was somewhat disappointed to read the front page of The West Australian yesterday because we know that particular line
was peddled to The West Australian by
the Labor opposition.
Mr A.P. O'Gorman interjected.
Mr C.J. BARNETT :
It is true. No-one is denying that. A line was peddled implying perhaps
inappropriate share trading, implying a breach of codes of conduct, perhaps
even trying to imply insider trading. None of that is the case.
Mr
B.S. Wyatt : Why don't you quote the article? Where does it say that
at any point?
The SPEAKER :
Member for Victoria Park!
Mr C.J. BARNETT : I
am saying what I believe.
Mr B.S. Wyatt : So
you are just assuming.
Mr
C.J. BARNETT : Are you denying that?
Mr B.S. Wyatt : I
am. I am asking exactly that.
Mr C.J. BARNETT :
You can ask what you like and I can answer what I like.
The SPEAKER : I do
not need anyone else engaged in this. Member for Victoria Park, I am going to
give you a supplementary. You are aware of that. Hear the Premier answer the
question you put to him. I do not need to hear further interjections from you
at this point.
Mr C.J. BARNETT : I
might be wrong, but I believe —
Mr B.S. Wyatt :
Probably.
Mr
C.J. BARNETT : I believe that this, if you like, accusation was put to the
media by the Labor opposition.
Mr
B.S. Wyatt : Now you're answering just on hearsay —
Mr
C.J. BARNETT : Is that true? I think it is true.
Mr
B.S. Wyatt : — and making things up as you go along.
Mr
C.J. BARNETT : I think it is true.
Mr
B.S. Wyatt : Just make it up.
Mr C.J. BARNETT :
That is what I believe.
Mr B.S. Wyatt : Why
did you sell all your shares when you became a minister, then?
The SPEAKER :
Member for Victoria Park, I do not know whether you listened to me last time. I
hope you did. I have indicated to you that I am quite prepared to give you a
supplementary. I do not need to hear further interjections from you. It is
quite simple.
Mr C.J. BARNETT :
With respect to the, if you like, accusations made in the media, the shares are
declared in the parliamentary register by all members, including ministers.
According to the ministerial code, there is also a higher level of
accountability in reporting and declaration relating to ministers. That was
followed to the letter. There was no conflict of interest by either the Deputy
Premier or the Minister for Local Government—no conflict of interest at
all. Members opposite tried to do two things. One, following last week they
continued their Labor Party personal attacks on members of Parliament —
Mr M. McGowan interjected.
Mr C.J. BARNETT : —
not based on fact, Leader of the Opposition, but through innuendo.
Mr M. McGowan : Why
did you sell your shares?
Mr C.J. BARNETT :
He tried to create an impression of impropriety. There was none—none at
all in terms of declaration, conflict of interest and the ministerial code.
There were three tests on ministers and not one of those tests was breached.
That is fact. The second point, which I think might be the member's
supplementary—I have heard the Leader of the Opposition talk about this
in the past couple of days—is an issue about whether there should be a
change to the code to say that ministers cannot trade in shares. I think that
has some merit. It is the case at a federal level and if this government is
re-elected, that is something I will consider because after every election
there is a review of the ministerial code. There may well be merit in not
having ministers trading in shares, particularly if those shares relate to any
interests within Western Australia.
Several members interjected.
The SPEAKER :
Members!
Mr C.J. BARNETT :
The growing principle for members of Parliament, and, indeed, many people in
senior positions—they can be judicial; they can be in the corporate
world—is to put shares into either a blind trust or only have shares
held at arm's length through a superannuation fund. That is the
reality.
have asked this question.
Ms L.L. Baker : Did
you?
Mr C.J. BARNETT :
Yes. But perhaps he is trying to hide from it.
Mr B.S. Wyatt :
Well, I have—so come on, answer the question.
Mr C.J. BARNETT : I
was somewhat disappointed to read the front page of The West Australian yesterday because we know that particular line
was peddled to The West Australian by
the Labor opposition.
Mr A.P. O'Gorman interjected.
Mr C.J. BARNETT :
It is true. No-one is denying that. A line was peddled implying perhaps
inappropriate share trading, implying a breach of codes of conduct, perhaps
even trying to imply insider trading. None of that is the case.
Mr
B.S. Wyatt : Why don't you quote the article? Where does it say that
at any point?
The SPEAKER :
Member for Victoria Park!
Mr C.J. BARNETT : I
am saying what I believe.
Mr B.S. Wyatt : So
you are just assuming.
Mr
C.J. BARNETT : Are you denying that?
Mr B.S. Wyatt : I
am. I am asking exactly that.
Mr C.J. BARNETT :
You can ask what you like and I can answer what I like.
The SPEAKER : I do
not need anyone else engaged in this. Member for Victoria Park, I am going to
give you a supplementary. You are aware of that. Hear the Premier answer the
question you put to him. I do not need to hear further interjections from you
at this point.
Mr C.J. BARNETT : I
might be wrong, but I believe —
Mr B.S. Wyatt :
Probably.
Mr
C.J. BARNETT : I believe that this, if you like, accusation was put to the
media by the Labor opposition.
Mr
B.S. Wyatt : Now you're answering just on hearsay —
Mr
C.J. BARNETT : Is that true? I think it is true.
Mr
B.S. Wyatt : — and making things up as you go along.
Mr
C.J. BARNETT : I think it is true.
Mr
B.S. Wyatt : Just make it up.
Mr C.J. BARNETT :
That is what I believe.
Mr B.S. Wyatt : Why
did you sell all your shares when you became a minister, then?
The SPEAKER :
Member for Victoria Park, I do not know whether you listened to me last time. I
hope you did. I have indicated to you that I am quite prepared to give you a
supplementary. I do not need to hear further interjections from you. It is
quite simple.
Mr C.J. BARNETT :
With respect to the, if you like, accusations made in the media, the shares are
declared in the parliamentary register by all members, including ministers.
According to the ministerial code, there is also a higher level of
accountability in reporting and declaration relating to ministers. That was
followed to the letter. There was no conflict of interest by either the Deputy
Premier or the Minister for Local Government—no conflict of interest at
all. Members opposite tried to do two things. One, following last week they
continued their Labor Party personal attacks on members of Parliament —
Mr M. McGowan interjected.
Mr C.J. BARNETT : —
not based on fact, Leader of the Opposition, but through innuendo.
Mr M. McGowan : Why
did you sell your shares?
Mr C.J. BARNETT :
He tried to create an impression of impropriety. There was none—none at
all in terms of declaration, conflict of interest and the ministerial code.
There were three tests on ministers and not one of those tests was breached.
That is fact. The second point, which I think might be the member's
supplementary—I have heard the Leader of the Opposition talk about this
in the past couple of days—is an issue about whether there should be a
change to the code to say that ministers cannot trade in shares. I think that
has some merit. It is the case at a federal level and if this government is
re-elected, that is something I will consider because after every election
there is a review of the ministerial code. There may well be merit in not
having ministers trading in shares, particularly if those shares relate to any
interests within Western Australia.
Several members interjected.
The SPEAKER :
Members!
Mr C.J. BARNETT :
The growing principle for members of Parliament, and, indeed, many people in
senior positions—they can be judicial; they can be in the corporate
world—is to put shares into either a blind trust or only have shares
held at arm's length through a superannuation fund. That is the
reality.
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