The Financial Services Council (FSC) has sought to position the financial services industry in the lead-up to the Federal election by offering to have the industry co-fund a public education campaign on the value of advice, and by calling for the provision of advice to be made tax deductible.
Addressing an FSC/Deloitte luncheon today, FSC chief executive John Brogden also pressed for more Government action with respect to under-insurance, including simplifying the tax regime around life insurance products via a national, uniform tax regime.
At the same time, Brogden pointed to the on-going costs being inflicted on the industry as a result of policy changes and called for an audit of outstanding regulation, tax changes and commitments and a clear timetable for implementation.
The FSC CEO also called on the Productivity Commission to conduct an annual review of new legislation, regulation and other instruments impacting the industry.
