Milton Dick (Oxley, Australian Labor Party) Share this | Link to this | Hansard source

One thousand and fifty-three days—that's how long it's been since the start of the review into the out-of-control payday loans industry in this country. Despite repeated promises made by the government, including the now Deputy Prime Minister, that we would see action to clamp down on the payday loan sharks, we are yet to see any decisive action.

Earlier today in media reports we heard of the heartbreak and pain that these shonky lenders are causing to everyday Australians like childcare workers like Jane, who took out payday loans to cover a few bills and ended up with a debt of over $10,000. Despite what the payday loan lobbyists might say, this industry is causing daily damage to over 350,000 Australians who have a loan. I say to those members opposite, the members of the Turnbull government who are the parliamentary friends of payday loans: start listening to your constituents, to welfare agencies and to community organisations. They are seeing the damage every single day.

I congratulate Gerard Brody and the Consumer Law Action Centre for their strong leadership in wanting to see the full, proper and original legislation brought forward rather than the watered-down version we are expecting from those opposite. The community knows only the strong opposition led by Bill Shorten will continue to fight on behalf of consumers in this country.