The Opposition accused the Prime Minister, Paul Keating, yesterday of breaching Cabinet rules on declarations of interests with respect to his interest in a piggery company.
The Opposition spokesman on the arts, Senator Michael Baume, said the Australian Securities Commission was inquiring into Mr Keating’s piggery group. Mr Keating had paid $430,00 for a half interest in the company. The company itself reported that that share was worth $4.2 million only six weeks later. He asked would the Government have an inquiry into “”Mr Keating’s blatant breach of Cabinet rules by not advising the then Prime Minister, Mr Hawke, that he had acquired a half interest in the piggery group on May 15, 1991 while he was still Treasurer” despite the rule that substantial alterations of interests should be reported.
The Leader of the Government in the Senate, John Button, replied that allegations of breaching Cabinet requirements were not a matter for the Senate.
Senator Baume then asked a supplementary question: “”How did Paul Keating turn $430,000 into $4.2 million, or are his company’s figures just plain shonky?”
Senator Button said the question did not fall within his ministerial responsibilities.