ERROL PARKER | Editor-at-large | Contact
Opposition leader Peter Dutton has announced the seven proposed sites for the Coalition’s nuclear plan have received funding from used car lender Motor Finance Wizard after plans to fund the projects with public money were panned by experts and taxpayers alike.
Known for lending money to people who shouldn’t be leant money, Motor Finance Wizard said this nuclear dream of Peter Dutton’s is not unlike that of a recent arrival to Australia or a discharged bankrupt jus trying to get some wheels.
Speaking to journalists in the nation’s capital, Mr Dutton said the partnership between the Commonwealth and Motor Finance Wizard is something to be excited about.
“Our vision for cheap electricity for all Australians is a step closer thanks to the good people at Motor Finance Wizard,” explained Dutton.
“They have assured me that they have a borrowing ceiling of over a trillion dollars, which is more than twice this project might cost. The cost is not important. Motor Finance Wizard has offered us a competitive interest rate of 15%, pegged to CPI, for the first 260 years then after that, we will only have a small balloon payment. The taxpayer will not have to pay a deposit, either,”
“Another option would be to get the nuclear powerplants on a novated lease, through Motor Finance Wizard, and hand them back at the end of it when these so-called renewables will be ready to go.”
Mr Dutton then paused to take questions. He was buoyed to see every reporter in the room had their hand up.
“Any questions about this? I will not be answering questions about that other thing in the news today.”
They all put their hands down.
In 2017, Motor Finance Wizard faced a substantial penalty following an investigation into its lending practices. The company had committed to an enforceable undertaking, agreeing to refund and write off $11 million in loans and leases. Additionally, they had established a remediation program for affected customers. Known for advertising extensively on television, Motor Finance Wizard’s ads claimed they would approve car loans even for individuals with credit defaults, ex-bankrupts, sole parent pensioners, marginally-employed-ex-policemen turned mysterious millionaires and the unemployed, a practice that had raised serious concerns.
The Advocate reached out to the Opposition leader for comment regarding this but have yet to receive a reply.
More to come.
