Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

The shadow minister raised a number of issues. Firstly, he misrepresented the position of the Treasury and mischaracterised the evidence given by the Australian Treasury to the Senate, which is very unfortunate. Secondly, he asked why the government is determined to proceed with this bill. This is something which has been covered extensively in the debate. The passing of this bill allows the making of the regulation. With the passing of this bill the Treasury can consult, in conjunction with the government, on the detailed implementation of the regulations. Until this bill is passed, those regulations cannot be made.

The honourable member may or may not be aware that this is the second-last sitting week of the year. This bill must be passed through both Houses of the parliament or we will have a temporary arrangement in place over Christmas and into the new year until the parliament resumes in February, with no penalty regime in place. The honourable gentleman appears completely relaxed about a regime which says: ‘This is what you shall do and this is how you will disclose—but if you do not do it, no problem. It is fine with us; the opposition does not care.’ That is not acceptable to this side of the House.

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