House debates

Monday, 18 February 2019

Questions without Notice

Banking and Financial Services

2:15 pm

Photo of Kerryn PhelpsKerryn Phelps (Wentworth, Independent) Share this | Hansard source

My question is to the Treasurer. The mortgage-broking model originated as a disrupter to the market power of the major banks, which were gouging clients. With the government's proposed changes to the mortgage-broking industry resulting from the Hayne royal commission into banking, how can the government ensure that the oligopoly of the big banks does not benefit financially whilst average families and small business once again are forced to pay the price of limited competition?

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