After a series of questions about the Palmer United Party’s withdrawal of support for the government’s repeal of the carbon tax, Ms Ferguson asked the mining magnate about claims that Chinese funds were paid to the Media Circus Network for advertising during the PUP’s federal election campaign.

The interview, which was conducted via videolink from New Zealand, ended abruptly when Mr Palmer was pressed about comments he made earlier in the week about the money being used to fund the political campaign.

Ms Ferguson said: “Lets be clear about this Mr Palmer because according to the deed that you signed….according to the deed that’s now being made public, that fund that was supposed to administer the port, the funds were only to be used for the port and it seems as though you've taken the money out and given it to Media Circus.”

Palmer: “Well that’s just not true, you know, it’s a lie.

Ferguson: “Which bit’s not true?”

Palmer: “Everything you've just said, everything you've just said is not true. I just want to make it absolutely clear to you there are no cases again me, there’s no proceedings against me in any way and there’s no suggestion I’ve done anything wrong.”

The exchange turned bitter when Mr Palmer cut Ms Ferguson off, claiming the the story was a “beat up by the Chinese”.

“Dont talk to me about allegations and bullshit, talk about judgments from the court ” Mr Palmer said.

Ferguson: “I’m sorry Mr Palmer let me just come back…”

Palmer: “I’m not discussing it with you any further, Madam, it’s subject to court proceedings, where we’re suing them for $600 million.”

Ferguson: “Yes, you've made that clear, but there a couple of questions that you were prepared to take earlier this week…”

Palmer: “I’m not answering any more for you so goodbye, we’ll see you later.”