Sharon Claydon (Newcastle, Australian Labor Party) Share this | Hansard source

While the Assistant Treasurer wasn't able to fill his time in this debate, members on this side have got more than enough to say. I've got to say just how distressing it is for the Australian consumers, the 1.8 million households in Australia under financial stress, to hear the Assistant Treasurer stand up in this House and say after three years he's got 'a bunch of stuff' to talk to us about. But there is not a bill before the House. There is nothing here to actually look at. There is nothing here for us to discuss, debate, look at amendments. But we've got a bunch of stuff happening over there. Well, I can tell you that the people of Newcastle won't be too reassured by the minister's words here today.

I've got to say there is almost universal opposition to the dodgy practices of payday lenders. Let's just pause for one moment to think about those people who have added their voice to why it is you'd want to stand up and do something about these dodgy operators out there. There's CHOICE, Care Inc., Consumer Action Law Centre, Financial Counselling Australia, Financial and Consumer Rights Council, Financial Counsellors Association of New South Wales, Financial Rights Legal Centre, Good Shepherd Microfinance—I haven't even got to the people in my electorate that speak up on a daily basis, asking me, 'What the hell is this government doing?' We had a review three years ago. The Minister comes in and says he's doing a bunch of stuff, but there is not a shred of evidence for that. Maybe that's what he's been doing in all that time devoted to his internet searching—getting a bunch of stuff together. Well, it is not good enough from the Assistant Treasurer. There are payday lenders in this country who trade in misery, who prey on the vulnerable consumers in our country. They are the last people that you would want vulnerable Australians to have to turn to in their hour of need, in financial stress, because we know where that goes. We know that leads to a big spiral of debt that no-one gets out of.

Only last Friday I had representatives of some of the financial counselling services from my electorate sitting with me, and I can't tell you how many times they asked me why the government had not yet acted on that review. They all contributed to that review. There was an extensive consultation process—I've got to hand it to the government on that. There were great contributions from the financial counselling services across Australia. They were very happy with the review that went forward and with the draft exposure that's coming out. There was a little bit of tweaking to be done. They were very excited about the possibility that you guys might actually be onto some serious reform, that you might do something, that you might lend some kind of hand to those people who are hurting and hurting badly. But nothing. You don't want to hold your breath waiting for this government to act on this one. It's pretty damn clear that the day they appointed the Assistant Treasurer into that position this was not going to be any green light. We knew exactly what was going on. It's all very well to appoint your good mate into the position, but this was the same man that earlier this year campaigned inside the Liberal Party against any introduction of the payday lending legislation. The Assistant Treasurer was actively campaigning—part of 'friends of payday lenders group'. What a shame! How disgraceful that this parliament even has such a sort of collective.

This is at a time when there are pop-up instant cash machines showing themselves in tobacco stores, in little shops in my electorate and in the neighbouring electorates of Hunter and Paterson, deliberately preying on people. All you need is a bit of ID and your bank account details and, pop, you've got an instant loan at the smoke shop as you buy your baccy for the week. How disgusting is that? We need a ban on those instant cash machines. We need a government to stand up for vulnerable Australians and enact some real reform. (Time expired)

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