Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting on Deregulation) Share this | Hansard source

As I have said in respect of the class action which is before the courts I cannot make comment about that. That is the choice of a group of individuals who have decided to initiate legal action. What I am outlining—refuting the commentary in the third part of your initial question—relates to the claim that the government has not taken legislative action. The government has taken the most extensive legislative action in respect of financial services and consumer credit that we have seen in 100 years. It has transferred, strengthened and introduced single standard national financial services legislation and consumer credit legislation, which I was attempting to outline in greater detail until there were a number of interjections. It has carried out the most extensive reform in over 100 years. I think from recollection you took part in the debate, Senator Xenophon; I am a little surprised— (Time expired)