Tim Hammond (Perth, Australian Labor Party, Shadow Minister for Consumer Affairs) Share this | Hansard source

I think it's safe to say that the one thing that we can all agree on in this place, no matter where we sit, is that when we are out in the community we constantly hear from mums and dads and from those people who vote for us about the need for genuine bipartisanship in this place, and more of it. Well, have I got a deal for you!

To her credit, the Minister for Revenue and Financial Services put into place reforms called the SACC reforms by way of review back in 2015 and 2016. For those who aren't aware of what the SACC reforms do, they go to the heart of the payday-lending and rent-to-buy industry. Those reforms were released in March 2016. The government commented in relation to those reforms in November 2016. The government, to their credit, recommended in principle to support all of those reforms. Those reforms will help vulnerable Australians achieve some relief from a relentless debt spiral that comes from entering into payday loans and rent-to-buy schemes that they cannot afford.

Federal Labor support those reforms. The minister supported those reforms. So why, you might ask, has it taken from November 2016 until the present day to actually get something meaningful to vulnerable Australians done? Well, the answer is that the government are not taking the step they need to. I challenge them to put their money where their mouth is. (Time expired)

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