Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Hansard source

That's a standard in the talking points—the same talking points which told us the cabinet was working exceptionally well just before those talking points were leaked by somebody in the cabinet! But, just in case any honourable member is tempted to run that fallacious argument in this chamber, we had the landmark National Consumer Credit Protection Act in 2009, which was the first single-standard and nationally consistent regime for consumer credit regulation and oversight in this country; and we had the very substantial Future of Financial Advice reforms, which I was responsible for and then the current Leader of the Opposition was responsible for after me, when he took over as Assistant Treasurer—all very substantial reform in this space.

But I do recommend this bill to the House. It is a good one. Of course, we could talk about the royal commission and other matters, but there are other opportunities to traverse those matters. I commend the bill to the House.

Debate adjourned.

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