Senate debates

Tuesday, 12 February 2019

Questions without Notice

Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry

2:14 pm

Photo of Mathias CormannMathias Cormann (WA, Liberal Party, Vice-President of the Executive Council) Share this | Hansard source

Firstly, unlike the Labor Party, we are taking action on all 76 recommendations now. In fact, we have legislation in the Senate this week which, courtesy of the Greens, we haven't been able to deal with over the last two hours.

We have legislation to increase penalties on white-collar crime, to increase the powers for APRA. Indeed, we have legislation, which we would like to see the Labor Party support, to abolish exit fees from superannuation accounts for those Australians saving for their retirement. But guess what? I would be interested to see how the Labor Party acts on that. Are you going to act in the interests of Australians saving for their retirement or are you going to act in the interests of those union-dominated industry funds?

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