House debates Questions without Notice
Future of Financial Advice
Bernie Ripoll Oxley, Australian Labor Party, Shadow Minister Assisting the Leader for Small Business
2:11 pm
My question is to the Prime Minister. Why has the Prime Minister put the Assistant Treasurer in charge of future of financial advice laws which reduce accountability, reduce transparency and reduce consumer protection?
Tony Abbott Warringah, Liberal Party, Prime Minister
It is the Assistant Treasurer's job to deal with those particular matters. On that point I should say to the member who asked the question that the legislative package which the Assistant Treasurer has before the parliament will actually save the sector and the sector's clients $200 million a year every year.