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

Senator Ludlam is right. That is consistent with what I have said before—that there are banks that have stopped providing them. In the Australian Bankers Association's submission to the Senate Economics Legislation Committee inquiry into this bill they noted that complex product rules and the availability of better savings products within the market have limited consumer interest in the scheme. That is one of the reasons why the First Home Saver Account scheme has been particularly unsuccessful.