Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

Mr President, I ask a supplementary question. The minister has referred to the Prime Minister’s reference to reasons for concern. He has not explained why the Treasurer has been claiming constantly that we will be unaffected by this meltdown. Has the minister also seen comments by a director of public-private sector partnerships, Dr Currie, that Australian non-bank lenders are ‘in a regulatory black hole’? In other words, they are not regulated. In light of this, on what basis did the Treasurer give his assurance that all is well for Australian financial institutions? Isn’t this just further evidence from the Treasurer and the government that they are arrogant and out of touch?