Suspend the Northern Australia Infrastructure Facility (NAIF)
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Australian taxpayers expect our taxes to spent in a fair and transparent manner.
The Northern Australia Infrastructure Facility (NAIF) is a $5 billion dollar public fund set up to provide concessional loans to projects which will help develop Northern Australia with vital infrastructure.
Concern has been expressed by former Federal Treasurer, Wayne Swan, and also recently in the Australian Financial Review that the NAIF does not have the usual checks and balances which would be expected with regards to other public money or in publicly listed companies. Wayne Swan on NAIF
The Auditor General replied to Mr Swan's request for an investigation on NAIF and indicated a review could be carried out in 2017/18 work plan.Auditor General's response on NAIF
Recent revelations relating to the potential conflict of interests of NAIF board members, the appointment process and lack of independence raise serious questions regarding the ability of the NAIF to do it's job with the degree of impartiality that Australians expect. It could also be argued that as the Minister for Northern Australia AND the Resources Minister that there is a conflict of interest right at the top regarding the ministerial responsibilities regarding NAIF.
With one of the most controversial infrastructure decisions Australia has ever considered (The loan to Adani) on the table, we owe it to our taxpayers and future generations to get this process right.
We call on the Federal Government to suspend the operations of NAIF until the Auditor General can conduct an appropriate investigation on the governance of the program.
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