Australian billionaire Palmer launches Trump-inspired political party

Australian billionaire Clive Palmer on Wednesday launched a political party he says was directly inspired by US President Donald Trump months before a nationwide federal election.

Mining magnate Palmer said his Trumpet of Patriots party would “drain the swamp” in the country's capital Canberra, a reference to Trump's plans to drastically cut the size of government.

“We think Donald Trump's been very effective in reducing public expenditure,” Palmer told a news conference when announcing the launch.

Palmer was critical of mass immigration and said the party would only recognise two genders, reflecting positions also favoured by Trump.

Trumpet of Patriots plans to stand candidates in all 150 seats in Australia's lower house and the upper chamber, known as the Senate, Palmer said.

Palmer, Australia's 18th richest person with a net worth of $2.1bn (R38.5bn) according to Forbes, led the right-wing United Australia Party (UAP) as a lawmaker in the lower house for three years from 2013.

Palmer spent about A$100m (R1.1bn) on campaigning for the UAP in the last federal election, yielding a single senator in the upper house.

He failed to register UAP in time for this year's election that must be held by May.

Prime Minister Anthony Albanese is yet to announce the date of the poll that could be as early as March after the country's central bank cut interest rates on Tuesday, a boost for the government that has seen its popularity fall due to cost of living pressures.

Reuters