House debates Insurance Contracts Amendment Bill 2010

Second Reading

Tuesday, 25 May 2010 House of Representatives

Luke Hartsuyker

Luke Hartsuyker Cowper, National Party, Deputy Manager of Opposition Business in the House

8:15 pm

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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