Media Release

KAP Leader and Federal Member for Kennedy Bob Katter has co-sponsored laws to establish an “Australia Fund” to provide quicker assistance for communities and businesses following natural disasters or economic and industry crises, which is in our nation’s interests.

The purpose of the bill is to establish a parliamentary committee to investigate the establishment of an Australia Fund, which would:

• Provide support for Australia’s manufacturing industries in times of crisis such as SPC Ardmona, Toyota, Ford, Holden;
• Assist Australians affected by natural disasters such as floods, droughts or bush fires; and
• Examine world financial crises or unfair market intervention.

“In times of disaster, we need to act very promptly for our country’s interests,” Mr Katter said.

“If we have a have an outbreak of foot and mouth disease, or a Cyclone, mass flooding or to point to a current example the worst drought in probably 80 years in Queensland presently, there is a fund there to react quickly.

“I’m very proud to be supporting these laws, because at the moment as a country we react to crises in a shoot from the hip and at times very unreliable manner.

“An Australia Fund would streamline the process, bring certainty to people dealing with the crisis and the Government will have those funds available in times of need,” Mr Katter said.

Mr Katter said that presently when Australia faces an economic or industry crisis, natural disaster or in times of emergency; Governments either refuse to intervene or source the money through a levy or tax to Australians.

“In times of natural disaster like the Brisbane Floods or Cyclone Yasi, it is critical that emergency and ongoing relief can be accessed quickly through one single fund rather than several.

“The Australia Fund would not simply be a pool of money, but guarantee structural support so that we have the ability to help our industries restructure like other countries do.

“This week we have seen the abolition of our manufacturing base with Toyota ceasing production in 2017, if the Australia Fund was set up, it could have reconstructed the struggling manufacturing car sector.

“The Australia Fund will ensure Australia remains competitive and industries don’t disappear overnight,” Mr Katter said.

The bill has been introduced by Member for Fairfax, Clive Palmer and in addition to Mr Katter is also co-sponsored by Independent Member for Denison Andrew Wilkie and Independent Member for Indi Cathy McGowan.