Senate debates

Monday, 4 July 2011

Bills

National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Bill 2011; In Committee

5:27 pm

Photo of Michael RonaldsonMichael Ronaldson (Victoria, Liberal Party, Shadow Minister for Veterans' Affairs) Share this | Hansard source

I fear a distant one, Senator. We are opposed to differential regulation as it creates market distortions and market-distorting regulations will eventually reduce the efficiency of markets and cost consumers more. Differences in fee structures based on market size will make comparison of products harder and will create confusion for consumers. The coalition favours a level playing field where consumers are able to select between products with certainty and clarity.

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