House debates Bills
Treasury Laws Amendment (Mutual Reforms) Bill 2019; Second Reading
Stuart Robert Fadden, Liberal Party, Assistant Treasurer
12:33 pm
I thank those members who've contributed to the debate and I thank the shadow minister. This bill demonstrates the government's support for cooperatives, mutuals and member owned firms by enabling these institutions to raise the funds they need to grow and compete. The sector is diverse and represents an alternative model for delivering important customer and community focused services across many industries, including agriculture, banking, finance, housing, insurance and retail. The government is committed to removing the impediments facing the mutual sector, and this bill delivers on that commitment. These changes will not only result in better outcomes for members of cooperatives and mutuals but also improve the capacity of member owned firms to innovate, grow and compete, delivering better outcomes for all Australians. I commend the bill to the House.
Question agreed to.
Bill read a second time.
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