Glenn Sterle (WA, Australian Labor Party) Share this | Hansard source

Thank you, Mr Deputy President. I am so glad of your protection. I am shaking in my boots from that fierce attack. I just want to finish with this. Phillip Coorey said:

He believes this to be more the product of misunderstanding and sloppy reporting than anything the government has done.

Here is a cracker. I would be very interested to hear the response from some of those over there. This is another quote from the Australian Financial Review today. Sally Patten reports:

Commonwealth Bank of Australia revealed in September last year that it had stopped putting in place systems that would have enabled its advisers to sign fresh contracts with clients every two years, a measure Senator Cormann has been keen to drop. The government may also come under pressure to either obtain industry consensus …

Well, well, well. Let's go to one more thing. I really would love 20 minutes on this, but I know I do not have 20 minutes, which is sad. I was wondering: why would this government do a massive backflip?

Senator Edwards interjecting—

Is it because there is an election in WA? I reckon that has a heck of a lot to do with it. I will tell you another thing. Listen to this, Big Ears. Sorry, I take that back, Mr Deputy President. That is unparliamentary but it is the nicest thing I could think of looking at Senator Edwards. On the AEC website there is a $20,000 donation to the Liberal Party from the Financial Services Council, and who heads up that? None other than Mr John Brogden, a former Liberal Premier. The Financial Services Council represents Australia's retail and wholesale funds. Well, well, well. The minister said he is new; the minister said he knew nothing about it. He was up to his neck in it, in my humble opinion. He knew all about that. This is all about saying to donors to the Liberal Party, 'Wait until the Western Australian election. We'll look after it once that's come and gone.' (Time expired)