Senate debates Bills

Treasury Laws Amendment (Putting Consumers First — Establishment of the Australian Financial Complaints Authority) Bill 2017; In Committee


Mathias Cormann

Mathias Cormann WA, Liberal Party, Minister for Finance

11:35 am

Firstly, I reject the proposition that the government cannot guarantee adequate funding. The government is guaranteeing adequate funding for the Superannuation Complaints Tribunal. Furthermore, the government will ensure that the Superannuation Complaints Tribunal has adequate funding while it operates and to wind down in an appropriate manner, and so it is able to clear the backlog of complaints. So I reject the premise of the question that was originally asked. I thought that I had already answered it. The government is satisfied that adequate funding has been provided. We'll continue to monitor, of course, the situation. And, of course, the government will at all times ensure that adequate funding is available.

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