Frydenberg to handle RC response
The Federal Treasurer, Josh Frydenberg has signalled he will be taking a greater role in overseeing key elements of the financial services portfolio, while leaving lesser elements to Assistant Treasurer, Stuart Robert.
In an announcement detailing portfolio responsibilities, Frydenberg said he would personally have responsibility for the development of the budget, economic and fiscal policy, taxation and superannuation policy, responding to the Banking Royal Commission, major foreign investment decisions and international engagement through the G20 and APEC meetings of Finance Ministers, International Monetary Fund and the World Bank.
“I will also have primary oversight of the Australian Securities and Investment Commission (ASIC), Australian Prudential Regulation Authority (APRA) and the Australian Competition and Consumer Commission (ACCC),” he said.
Frydenberg said Assistant Treasurer Robert would have responsibility for financial services and the day to day management of superannuation, competition and consumer policy, the Australian Bureau of Statistics, FinTech, crowd source equity funding and assisting across the portfolio on matters including taxation legislation and administration.
He said Assistant to the Minister for Treasury and Finance Senator Zed Seselja would have responsibility for the not-for-profit and mutuals sector including the Australian Charities and Not-for-profits Commission (ACNC), Royal Australian Mint, assisting the Treasurer with some aspects of foreign investment and working with the Treasurer on housing policy as well as assisting with matters across the portfolio.
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