Australian billionaire Clive Palmer today founded a political party that he explained was inspired by US President Donald Trump a few months before the national election.

The mining tycoon said his party, called the “Trumpet of Patriots” (refering to Trump’s surname) would root out corruption and bureaucracy in the nation’s capital, Canberra, again a reference to Trump’s plans to drastically reduce the size of government.

“We think Donald Trump has been very effective in reducing government spending,” Palmer said during a news conference introducing his new party.

Palmer opposes mass immigration and has said his party will only recognize two genders reflecting positions Trump has supported.

The Trumpet of Patriots party plans to run candidates for all 150 seats in Australia’s lower house of parliament as well as seats in the upper house, or Senate, Palmer said.

Palmer, who is the 18th richest man in Australia with a net worth of $2.1 billion according to Forbes, previously led the United Australia Party (UAP) and served as its member of the lower house of parliament for three years from 2013.

Palmer spent about $63.52 million on the UAP campaign in the last federal election, electing a single senator to the upper house.

He failed to file in time for the UAP’s participation in the upcoming election scheduled for May.

Prime Minister Anthony Albanesi has yet to announce the exact date of the election, which could be as early as March, as the country’s central bank yesterday, Tuesday, cut interest rates, as the government is seeing its approval rating decline due to the high cost of living.