Heat on waffling Turnbull to ban foreign donations

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From Domainfax:

The committee Malcolm Turnbull insists is the best way to reform Australia’s political donations system has not been formed, has not been asked to examine the issue and routinely had its past recommendations ignored.

…Independent MP Andrew Wilkie said on Thursday he would introduce a private members’ bill to ban all foreign donations as soon as possible. He called on the Coalition and Labor to support the plan.

“The only reason they wouldn’t get behind this bill and move quickly is if they think the money they are enjoying from foreign individuals and companies is more important than public interest and the public clamouring we’re now seeing,” Mr Wilkie said.

Liberal Democratic Party senator David Leyonhjelm backed changes to donation rules that would see near real-time disclosure of donations and a lowering of the disclosure threshold.

Labor’s donations reform policies include reducing the disclosure threshold from $13,800 to $1000, banning anonymous donations over $50 and banning foreign donations.

…”I say to Malcolm Turnbull: be prepared. Next week you can either work with us or oppose us but, by hook or by crook, Labor is going to propose legislation which will ban foreign donations,” Mr Shorten said.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.