On financiers not signing up — 4 June 2009
Grech’s planned question: “Is it not the case that for OzCar to be viable, it needs to have finance providers sign up to participate? How many financers have signed up?”
Actual question by Abetz: “My next question is how many financiers need to sign up, and we have been through that and the amounts involved. So no financiers have signed up.”
On consequences of the OzCar SPV ending in 12 months — 4 June 2009
Grech’s planned question: “What is to happen to Ford Credit – and its dealers – in 12 months time when OzCar comes to an end?”
Actual question by Abetz: “What is going to happen, then, without saying too much as to what commercial dealings are happening with Ford Credit. As I understand it, OzCar was for a 12-month period?”
On car dealer financing vehicle not being activated 4 June 2009
Grech’s planned answer: “The answer is no; OzCar has not been activated”
Actual answer by Grech: “None. OzCar has not yet been activated”
On cost to taxpayer — 4 June 2009
Grech’s planned answer: “Yes it is very likely to lose money, especially if it is only about $400 million in size.”
Actual answer by Grech: “if the facility is anywhere south of $350 to $400 million and if the facility operates for 12 months the probability of loss will exceed 50 per cent.”
On supporting financiers, not dealers — 4 June 2009
Grech’s planned answer: “OzCar is now being used to prop up what would otherwise be a departing financier – rather than supporting the dealerships of those dealers who have said they will depart”
Actual answer by Grech: “With the decision to accommodate Ford Credit, the parameters have indeed changed a little, so that you are effectively now supporting a financier that would otherwise leave, leaving stranded dealerships”
On Treasury modelling — 4 June 2009
Grech’s planned question: “What does this say about the reliability of the forecasts of the Prime Minister, Treasurer and Treasury? The thing was initially expected to be a $2 billion facility”
Actual question by Abetz: “Did Treasury do any of this modelling that you do not want to get into, Mr Grech, very wisely, but this figure of $2 billion was announced as a sizeable sum and it was all part of taking decisive action”
On size of vehicle — 4 June 2009
Grech’s planned questions: “How large is OzCar expected to be? The Treasurer has said recently…that OzCar is expected to be around $850 million?” AND “This thing was initially expected to be a $2 billion facility; then it was revised down to $1.3 billion; then $850 million and now, less than a month after the Budget – only $400 million”
Actual question by Abetz: “As I understand it, OzCar, or the structure, was initially set up as a $2 billion mechanism, if I can call it that, and now it is going to be considerably less, about a third, a quarter of the size?”
On representations from Treasurer’s office re Bartons and Ipswich motors — 4 June 2009
Grech’s planned question: “Do the names Barton City Holden and John Grant from Ipswich Motors mean anything to you?”
Actual question from Abetz: “Did the Treasurer make representations on behalf of Bartons City Holden and John Grant Motors from Ipswich?”
Surely Abetz has some sort of case to answer. I don’t understand the process enough, but there is surely something dodgy in among all this?
Aid and Abetz should be refused a vote in the Senate when he is being referred to the privileges committee. On past performance it’s too much to expect him to abstain due to a conflict of interest. Turnbull should direct him to abstain.
On the available information he has committed a most serious breech of misleading parliament – to say the least.
Bob.
As I said on the other site. I think it’s pretty disgusting the way the three main culprits have behaved. I read somewhere, that Turnbull was being advised by Bill Heffernan(Senator). Typical!If I was Turnbull, I’d sever that link for a start. Remember Heffernan and the Justice Michael Kirby disgrace? The role that Howard played was also disgusting – I don’t think he even apologized, and Heffernan was slapped with a feather? Another little toad!
Abetz will be allowed to vote, and the Opposition with Fielding will dream up some reason why they didn’t/won’t vote for an investigation – just like last time.
I really hate liars! I know about the psychology of politics etc, but this is just pretty low. Turnbull is only sorry that he met Grech. It doesn’t even occur to his arrogant and self opinionated brain, that he’s given the Australian people via the Parliament, the ‘middle finger’. I think that the ‘leaders’ in the Oppositon knew all about what went on. I’d like to watch Question Time again in both Houses, knowing what we know now, and I reckon there’d be some pretty smug looks on the Opposition benches in both Houses. I think that Abbott, Minchin and probably Heffernan, Barnaby Joyce?Hockey? Yep! Not worth a spit, any of them!
Eric and the Libs may view this as just a political problem they have to maneuver their way through while minimising damage. However; I believe the parliament as a whole needs to view this much more seriously. Treating the senate as a plaything will bring ridicule upon it and can undermine public confidence to a dangerous level.
I am not suggesting Australians will take up arms over this. But the continued erosion of confidence in this institution may be bought home at a time when a subject of greater import is debated and the publics confidence in the deliberations is essential. This will be the time Eric Abetz and other senators including no doubt that gormless Fielding will be wringing their hands and saying they cant understand why Australians are not supporting the parliament.
Wake up youse guys this is not a game. If Fielding does not support a privileges committee investigation he does not deserve to be in parliament and should explain what he does actually stand for.