Sinodinos stands down as Assistant Treasurer

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By Leith van Onselen

Just in via Business Spectator, Arthur Sinodinos will stand aside as Assistant Treasurer following allegations of corruption connected to an ICAC inquiry in NSW:

The move comes in the face of increasing pressure from the opposition and the Greens, who earlier today demanded Mr Sinodinos explain inconsistencies between a statement he gave to parliament in 2013 and evidence heard at a corruption inquiry.

Asked about Mr Sinodinos’ decision during question time, Prime Minister Tony Abbott said the senator will co-operate fully with the corruption investigation and will “answer all questions”.

The prime minister said Mr Sinodinos standing aside until the ICAC investigation had been resolved was for the good of the government.

“Senator Sinodinos has done the right and decent thing,” Mr Abbott said.

Great news. Now pull the FOFA amendments.

Leith van Onselen

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

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Comments

  1. General Disarray

    Who will be the new voice for the finance industry, err, I mean assistant treasurer?

  2. A good man who was just trying to cut through red tape (FoFA) has been innocently caught up in the stench of Obeid. He was a chairman of a company 30% owned by the Obeid clan. How could he possibly know that?

    • The same person who even if found not guilty is in a morally questionable position accepting such a job with little due diligence. The same person who also proposes morally questionable legislation. Then again, we’re not dealing with moral people.

  3. migtronixMEMBER

    That’s not good news, jail time would be good news. How do the people who elected this disgrace feel? Probably don’t even know he’s the member, just ticked a generic Laberal box..

    • That’s not good news, jail time would be good news. How do the people who elected this disgrace feel? Probably don’t even know he’s the member, just ticked a generic Laberal box..

      Yup, a Senatorship is the most lucrative position to get – all you need to do is be able to hustle your competitors within the party. No having to worry about kissing babies or ‘being active’ in the electorate. Sinodinos must be a pretty big player behind the scenes to have parachuted in so effortlessly at the last election.

  4. GunnamattaMEMBER

    Smells like a sacrifice to me, TestosterTone has let him go a little quick for a government only 8 months into its first term.

    I wonder who he has been sacrificed for? Is there another ‘good ol’ boy’ out there the Torynuffs would like to protect from public scrutiny?

  5. What angers me the most is the complete lack of interest from the MSM. Had something like this happened under Labor, Newscorp would be ablaze and Abbott would be screeching for royal commissions in to anything and everything.

    • Pretty sure it’s front page of the Australian, Dennis Shanahan did a small piece saying he should resign. There’s also Fairfax, pretty sure it’s on the front page of SMH.

      Perhaps you’re referring to the websites of these organs? Online media sells ads by clicks, hence the glut of ‘click-bait’ stories, such as quizzes and ‘Dog bites man – you’ll never believe what happened next’. Nearly no one knows who Arthur Sinodinos is or understands the power he wields, no clicks, no ads, no revenue, no coverage.

      Get smart, not angry?

      • Agreed. ‘If you don’t do this, we will be forced to criticise you. Don’t make us criticise you.’

        edit: I think it’s called ‘telegraphing your punches’.

      • Merk

        online Fairfax is clearly on balance Coalition biased…… like when the polls finally showed Coalition in front but never when it was the other way around

        And that was the same case with the print version as well.

        So you’re wrong.

        What basis did you have to make that false claim. Do you read Fairfax online? Oh you must be their ad bait then!

      • Melbourneguy, let’s check the ballistics here. There was originally a claim of a complete lack of interest shown by the ‘MSM’. I presented an opposing view, in mild terms, with facts, and posit a charitable theorem for the discordant views.

        Without presenting any evidence whatsoever (“the polls”? wut??), you say I’m wrong and tell me I’ve made a false claim. I think you’re talking through your hat.

        So what if they are biased? Most media outlets receive significant revenue from government advertising. In many ways it’s in their interests to cosy up to whomever may be at the helm. Crucially, no one’s forcing you to read them. Increasingly, no one does. Chill out.

  6. what happened to people in the past when they made such a move ? Was it a tacit acknowlegdement of their guilt and a sign that they would resign from their post in the future ? does this mean Sinodinos is “on the way out” ?

    It certainly is healthy for the australian democracy.

    • I remember in the 80’s being a federal public servant when you had to ask permission(in theory) just for casual or part time cleaning work….

      Nowadays it’s open season for senior (well paid) public servants and politicians to do business on the side, use public sector resources for personal benefit or gain, or be in a revolving door between state and private sector.

      Investigative journalists could find many more e.g. at least two ASX companies in one sector alone were seeded by directors, when working in public sector and/or quangos, with latter resources and support…… won’t mention who as MB would probably get used…..