House debates

Tuesday, 25 May 2010

Insurance Contracts Amendment Bill 2010

Second Reading

8:15 pm

Photo of Luke HartsuykerLuke Hartsuyker (Cowper, National Party, Deputy Manager of Opposition Business in the House) Share this | Hansard source

Indeed I will, because insurance companies depend on return on investment for a very large part of their income stream. And that return on investment is a factor in determining their ability to service premiums and so on. So the potential adverse impacts of that tax which I referred to previously, on investment returns for insurance companies, is an element that is relevant to insurance. Can I say, in conclusion, that we certainly concur with the legislation that has been put before the House. Would you like me to continue talking?

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