Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

The Labor Party clearly does not enjoy it when a minister actually is directly relevant in answering the question. What I would just say here, by way of broader comment, is: the reform proposals that we have put forward are a very important part of our agenda to restore the balance between ensuring appropriate levels of consumer protection while ensuring that high-quality financial advice remains affordable for everyone. Labor in government imposed too much unnecessary, costly regulation on the sector, pushing up the cost of advice for consumers in the process. Every bit of additional and unnecessary advice pushes up the cost for those people who are saving for their retirement. We should not be imposing more costs on them than is absolutely necessary.