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

I hesitate to do this, but let me say: I reject the premise of the question. This government remains committed to improving the financial advice laws in Australia in order to ensure that we restore the right balance between appropriate levels of consumer protection and ensuring that access to high-quality advice that people can trust remains affordable.

There has been a lot of misinformation and a lot of confusion created by people with a vested interest to create that confusion. We want to ensure that people understand what we are actually proposing to do rather than what people perceive we are doing. Of course, the misrepresentations that Senator Bishop has used as a foundation for his questions is just another example of that.

If there are ways that we can better achieve the policy objectives that we stated in the lead-up to the last election by ensuring more precise language in the regulations, of course we will take those propositions on board. That is the usual process. (Time expired)