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

Mr Deputy President, it has to be known that there are so many mistruths coming from that side of the chamber. None of you have got the guts to stand here and talk about FoFA, but I will talk about FoFA. What a pathetic effort to defend this one.

I want to read some interesting comments about the FoFA changes and the backflip from that side—the two-faced attitude from certain ministers. I go to today's Australian Financial Review. I quote Chanticleer, who said:

Sinodinos bungled the financial advice reforms by putting too much emphasis on cutting red tape and too little on what it would mean for consumers.

I go to another interesting comment in today's media from none other than Phillip Coorey, a very highly regarded journalist with the Australian Financial Review. He said:

It is too early to describe the FoFA freeze as a backdown but it could end up that way. Finance Minister Mathias Cormann says he intends to legislate for the policy as promised before the election, just that it would be better to have all the interest groups in agreement first—

Der! He continues:

Cormann, who designed the FoFA changes in opposition, is hardly signalling a rousing endorsement of stood-aside assistant treasurer Arthur Sinodinos.

You are pathetic, you lot.