THE HON TANYA PLIBERSEK MP
DEPUTY LEADER OF THE OPPOSITION
SHADOW MINISTER FOR FOREIGN AFFAIRS
AND INTERNATIONAL DEVELOPMENT
MEMBER FOR SYDNEY
THE HON CHRIS BOWEN MP
MEMBER FOR MCMAHON
ASIAN INFRASTRUCTURE INVESTMENT BANK
In the latest leak from its national security committee, there are reports today the Abbott Government has reversed its opposition to the Asian Infrastructure Investment Bank.
If true, this is another humiliating backdown by the Abbott Government.
The Bank has the potential to boost infrastructure investment in our region by around $100 billion. That’s a good thing.
Labor has been saying for months now that Australia should announce support for the Asian Infrastructure Investment Bank.
By contrast, all the Abbott Government has done is dither, and squabble amongst themselves. Completely paralysed about what to do, they just did nothing, and opposed the Bank.
The Abbott Government has totally mishandled this issue - it's been chaos.
As many of our friends like the UK, New Zealand, Germany, France, Italy, India, and Singapore have already thrown their support behind the bank, the Abbott Government is now trying to play catch up.
This has been an embarrassing display by the Abbott Government over the last several months, especially from Foreign Minister Julie Bishop who is widely believed to have led the inexplicable opposition to the Bank proposal.
FRIDAY, 20 MARCH 2015