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The Federal Opposition has accused the Minister for Superannuation and Corporate Law, Senator Nick Sherry, of having become bogged down in more than 20 reviews, consultations, committees and reports.
The Opposition Spokesman on Financial Services, Superannuation and Corporate Law, Chris Pearce, claimed the number of reviews and consultations being overseen by Senator Sherry was one of the reasons why the Government would not be implementing its national regime on consumer credit regulation by the July 1 deadline.
“The Rudd Government has once again failed to deliver on promises it made to regulate consumer credit by July 1,” he said.
“The attempted smoke and mirrors campaign by the Government (with reference to the consumer credit laws) is nothing but a shallow grab for attention for a minister bogged down in more than 20 reviews, consultations, committees and reports,” Pearce said.
“The Government has reneged on yet another promise,” he said. “It promised homebuyers to pass on interest rate cuts. It promised retirees their super savings would be available. It has promised and promised.”
