Senate debates

Tuesday, 25 March 2014

Questions without Notice

Future of Financial Advice

2:32 pm

Photo of Mathias CormannMathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

That is a ridiculous suggestion. The Labor Party are engaged in the politics of this debate and good luck to them. But as to the timing, as Senator Bishop would well know, I took responsibility for this part of government policy in the middle of last week. Having come into this new, I needed to satisfy myself about exactly what was on the table to implement our election commitments.

I can again confirm that the government is totally committed to the speedy and efficient implementation of our election commitments, but while the legislation is going through an inquiry through the Senate Standing Committees on Economics it was quite appropriate to pause the implementation of the related regulations. While that is taking place, I will conduct some further consultations with key stakeholders. That is a good process and that is what this government does. When the Senate inquiry has reported, there will be an opportunity for the chamber to have a debate on the merits of all of this. (Time expired)

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