LEIGH SALES, PRESENTER: It was a day of electoral wins and losses for Clive Palmer. The businessman now has a seat in the Federal Parliament after being formally declared winner in the Queensland seat of Fairfax. But he's furious over the admission by the Electoral Commission that it lost more than 1,300 votes during the Western Australian Senate recount. That could cost a Palmer United Party candidate the state's fifth and final Senate seat. Clive Palmer joins me now from Brisbane.

Mr Palmer, welcome to your first interview on 7.30 as a federal member of Parliament.

CLIVE PALMER, PALMER UNITED PARTY: Well it's great to be here. Thanks very much for inviting me.

LEIGH SALES: When will you be publicly providing a full declaration of your financial assets and relevant business interests?

CLIVE PALMER: Well you've got within 28 days of when you're sworn in, so, it'll be there, it'll create another story. I'm happy to come on air and discuss it with you. There's nothing I've done in my life that I'm ashamed of and my election to Parliament must sound an ominous warning to Campbell Newman and his cohorts that mercilessly, cowardly attack our judiciary. The only separation of powers we want is Campbell Newman out of Parliament.

LEIGH SALES: Let's stick with you as an MP for now. You said recently in terms of your pecuniary interests that you've got all the information together, so it's not a big deal to provide that information.

CLIVE PALMER: No, it's not, no.

LEIGH SALES: So let me ask you now about some of the details: how many company directorships do you hold?

CLIVE PALMER: I wouldn't have a clue, but a lot. Maybe 40 or 50.

LEIGH SALES: And why is it that you don't have an actual clue in terms of the specifics of that?

CLIVE PALMER: Because I don't think of companies by numbers, I think of them by what they're doing and I focus on their business, so I could sit down and run through every company with you if you had the time, but I know you haven't, but I don't look at the overall number of companies. That's not important. What's important is I discharge by duties as a director in accordance with the corporations law.

LEIGH SALES: How many properties do you own?

CLIVE PALMER: Oh, I think - me personally, I probably own around about 15 or 20 or something like that.

LEIGH SALES: And again, you don't know the specific number?

CLIVE PALMER: No, I don't because I employ thousands of people in this country and a lot of my properties are for their benefit and their enjoyment.

LEIGH SALES: Is the nickel refinery that you own in North Queensland operating at a profit or loss?

CLIVE PALMER: Profit.

LEIGH SALES: And what is that profit?

CLIVE PALMER: Well we'll discuss that when we release our accounts, you know. It's certainly at a profit today and that's the most important thing. But the nickel refinery is less than a small fraction of my assets. It's just what poor old Hedley Thomas does to lick Rupert Murdoch's backside so he gets a promotion - that's all. It means nothing at. I ...

LEIGH SALES: Well, Hedley Thomas isn't here asking questions, I am.

CLIVE PALMER: OK.

LEIGH SALES: Let me also ask you: does your Coolum resort in Queensland operate at a profit?

CLIVE PALMER: No, it's where I live and where I enjoy myself and that's - I keep people employed at a great subsidy 'cause I love the Sunshine Coast and I love spending my money to keep people employed in the greatest state in Australia.

LEIGH SALES: And how long are you prepared to sustain that loss?

CLIVE PALMER: Well probably until I die.

LEIGH SALES: And what is the magnitude of that loss?

CLIVE PALMER: Who knows? Who cares? Not me. It's only a minor amount of our financial aspects. But that'll all come out, so stay patient. It's only not long to wait. You can do it.

LEIGH SALES: We are to believe now that as an elected MP you can be trusted as a steward of the public purse, but with these questions I've asked you, you haven't provided specific detail, so you're not on top of the detail of your own personal finances; how can we trust you with the public purse?

CLIVE PALMER: Well you don't have to. The people of Australia trust me and they're the ones that have elected me. And it doesn't matter really what you think as a journalist, it matters what they think. And of course, I've been elected with over 50 per cent of the vote, so they mustn't agree with you. They must be happy about me. And I'm a citizen of Australia, never been charged with an offence, as a director for 40 years I employ thousands of people, but you want to ask me about my personal income. How much money have you got in the bank? How much did you pay for your kids' school? What are their school fares?

LEIGH SALES: I'm not an elected official. I'm not an elected official.

CLIVE PALMER: But if you want to ask me about elected things or public things, that's fine, but why concentrate on my personal stuff? It's really none of your business.

LEIGH SALES: Because a publicly-elected official, unfortunately, your private affairs in part do become public affairs because they potentially pose a conflict of interest.

CLIVE PALMER: Well that's just rubbish of course. As a member of Parliament, you don't have a conflict of interest, only if you're a minister. That's what the legal cases say. Members of Parliament are free to vote as they want on anything.

LEIGH SALES: Do you believe that any of your assets, your company directorships, shares, property incentives or gifts that you've received could pose a future conflict of interest?

CLIVE PALMER: I don't think so, no.

LEIGH SALES: So, you're confident that somebody with an extensive array of businesses, as you've outlined, 40 or 50 company directorships, a number of properties, that there's not a single conflict of duty with your - sorry, single conflict of interest now with your duty to act in the public interest, not in your private interest?

CLIVE PALMER: As I explained to you before, conflict of interest only comes in if you're a minister of the Crown. Now if Tony Abbott wants to appoint me a minister of something, if something comes up, I'll declare it. For 40 years, I've been a director of a company ...

LEIGH SALES: But Mr Palmer, Mr Palmer, sorry, I just want to - I just want to pick up on that point ...

CLIVE PALMER: Well I want to say something first ...

LEIGH SALES: ... because your party. No, no, because your party is going to hold the balance of power in the Senate, so therefore you will be somebody in a very powerful position potentially with conflicts of interest.

CLIVE PALMER: Well I'm not a senator and I won't be in the Senate voting anyway. Conflict of interest only comes down for individuals, it's not a party. I mean, the whole Liberal Party's got a conflict of interest, but the whole reality of it, that's not how it works in politics.

LEIGH SALES: There've been various estimates of your net worth in the press, ranging from under a billion dollars to $6 billion. What is the reality?

CLIVE PALMER: Who knows? Who cares? It really doesn't matter. What really matters is our ideas. Governments may come and go, but ideas go on forever. That's what it's about: serving the community. Don't worry about money. It doesn't matter how much money you've got, it's the content of your character that matters. You should know that.

LEIGH SALES: On another matter, you recently claimed that you had documentary evidence of illegal payments being made to corrupt Queensland Government ministers. What is that evidence?

CLIVE PALMER: Wait for a while. I can't give you all the news tonight. When I get into Parliament, we can table it and you can read it. You'll love it. Campbell'll love it too.

LEIGH SALES: But if you have currently evidence, have you provided it to the police or the Crime and Misconduct Commission?

CLIVE PALMER: What I've said, I've got a certain amount of evidence. I don't have conclusive evidence, but it's in the public interest and we'll put it out there in the political debate.

LEIGH SALES: So are you waiting for parliamentary privilege - is that what you're saying?

CLIVE PALMER: But goodbye - no, goodbye, Campbell Newman - that's what I'm saying. Goodbye, Campbell Newman. Goodbye Campbell Newman.

LEIGH SALES: But if you currently have evidence of bribes being paid to public officials and you've not provided that information to police, aren't you a party to a coverup of a crime?

CLIVE PALMER: Well I never said I had evidence of bribes being paid to anyone. You said that. Aren't you a coverup to a crime?

LEIGH SALES: Well you said that illegal payments are being made to corrupt Queensland Government ministers. That's a bribe.

CLIVE PALMER: Well that's my opinion. I think that. I think Campbell Newman would only be doing the things he's doing to take distraction away from what he's really doing and that's what the people should be concerned about. He's sacking public servants at the moment at a ever-increasing rate and he's destroying the Queensland economy and he needs to be held accountable for those things. He's fighting with the judiciary just to take the heat off what he's really doing, and certainly we'll have to point that out to the people of Australia when I get into Parliament.

LEIGH SALES: Mr Palmer, there's to be an independent inquiry into the Australian Electoral Commission's loss of more than 1,300 votes in WA, something that could potentially change the result as it stands. What do you think should happen there now?

CLIVE PALMER: Well firstly, there was a count on a full number of votes and our candidate won. Secondly, there was a recount and they lost the votes. Well you can't rely on the recount; you've got to go back to the full count or you've got to have a new election. It doesn't affect our candidate's electability. If they lose the votes, you can't use the count.

LEIGH SALES: Clive Palmer, thank you for your time tonight.

CLIVE PALMER: It's a pleasure.