Newman in breach of rules: Fraser

Labor says it has proof Liberal National Party leader Campbell Newman is not complying with cabinet rules about financial interests.

Mr Newman told reporters on Thursday morning neither he nor his wife, Lisa, owned any shares in publicly listed companies.

As he tries to win a seat in parliament, Mr Newman said he was already complying with rules that ban cabinet ministers from holding shares in publicly listed companies.

“I don’t own publicly listed company shares. My wife owns no publicly listed company shares,” he told reporters.

“If I become the premier we will comply with the cabinet handbook and if that requires a change it will occur.

“But, basically, from everything I’ve seen, there is no requirement to change anything under the current rules.”

Queensland Treasurer Andrew Fraser said Mr Newman was lying.

Mr Fraser produced Mr Newman’s pecuniary interests register, which the LNP leader signed on January 20 this year.

Under a section for declaring investments or beneficial interests of private companies, it lists: “Shares held by Frome Holdings Pty Ltd – Woolworths, Stirling Resources”.

Woolworths and Stirling Resources are both publicly listed companies.

Mr Fraser said the cabinet handbook clearly stated ministers could not hold shares in listed companies, and Mr Newman’s claim of advance compliance was simply not true.

“This is another lie from Campbell Newman about his record of financial interests,” Mr Fraser told reporters.

“And the evidence is here in his own hand writing that these are the shares in different companies that Mr Newman owns.

“Mr Newman has either lied to the people of Queensland or his web of financial interests are so complex that he has forgotten what he owns.

“You are either a minister or a share trader. You can’t be both.”

Fresh comment was being sought from Mr Newman.

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