Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

(—) (): My recollection of the funding in that part of ASIC is that it is essentially self-funding, cost-recovered, and that is something that the opposition had supported. So now you are telling me that is not the case, are you? Is that the question that you put to me today? In order to adequately fund and resource ASIC and the financial advisors, fees from financial advice are recouped, as it is through APRA and other national regulators. You are now walking away from that position as well, right? If it is not going to be self-funded, it would come as a cost to the budget, because presumably you would want ASIC appropriately funded in order to regulate the financial system. I would have thought that was something we agreed on. But I am not going to take a lecture from those opposite when they have opposed cheaper medicines, they have opposed energy bill relief and they have opposed extra investment in housing. (Time expired)