Penny Wong (SA, Australian Labor Party, Shadow Minister for Corporate Governance and Responsibility) Share this | Hansard source

Mr President, I ask a supplementary question. I again ask the question: does the minister stand by her view put to this chamber on 22 June that ‘there is no loophole’, contrary to the advice from the regulator? Is that the answer that the minister gives to the thousands of elderly Australians who lost their life savings in Westpoint? Doesn’t this just demonstrate how arrogant and out of touch this Howard government is—that you do not even acknowledge that there is a loophole?