Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I thank the member for his question because it comes back to a point we were discussing earlier. The government’s guarantee applies to deposits in deposit-taking institutions which are supervised by APRA. What the member is talking about is unlisted managed investment schemes. They are market linked investments. They are not deposits. They are worthy investments, they are worthwhile investments, but they are not deposits. The government has chosen not to put a guarantee on those funds; it is very clear. This in no way reflects on the quality of those institutions. It does not reflect on their investments. But you cannot come in here and argue about more guarantees elsewhere in the system and then say you are going to go out and provide a comprehensive guarantee for every market linked investment in the country. That would be the height of economic irresponsibility.

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