This is Australia we want only Australians in Parliament, page-17

The idea is inherently not workable. It is an elitist idea.

Who will appoint the people to choose "the best people in the country" ?

The voters will decide who they want to govern the country.

I have to emphasize candidates standing for election must not hold dual citizenship. It should be made a criminal offence with jail term for someone holding dual citizenship gaining election to parliament.