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The governmentâs chances of passing its signature superannuation reforms through the lower house narrowed further on Tuesday, with crossbench MP Bob Katter revealing he will not vote for the package in its current form.
Mr Katter told
The Australian Financial Review that he would inform Treasurer Josh Frydenberg on Tuesday. âMate, I just canât see my way clear to vote for this the way it is.â
Crossbench MP Bob Katter and Senator Jacqui Lambie oppose the directions power in the super legislation. Â
Alex Ellinghausen
Mr Katter, who supports the intentions of the bill to do away with duplicate super accounts and push consumers into better-performing funds, is worried by the prospect of individuals being stapled to underperforming superannuation funds.
Former Liberal MP Craig Kelly could sink super reforms
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The government’s signature superannuation reform package may struggle to clear the lower house, with renegade former Liberal MP Craig Kelly saying he is unhappy with several aspects of the Your Future, Your Super bill.
Mr Kelly, who quit the Liberal Party in February, told
The Australian Financial Review he thinks “several provisions of the bill are contrary to Liberal party values”, including the directions power giving the Treasurer the ability to ban investments that do not align with the national interest.
The provision, also opposed by Labor, would allow the government “to prohibit certain payments and investments where they are considered to be unsuitable expenditure by trustees in any circumstance.”
Bankers press Senate on responsible lending
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The federal government is struggling to win Senate support to dump responsible lending laws, despite reassurance from National Australia Bank chief executive Ross McEwan that the proposed changes will not lead to more risky bank lending.
Bank chief executives have been at Parliament this week meeting senators to discuss the government’s proposed overhaul of credit rules, as well as how banks will deal with home and small business borrowers still hurting from social distancing rules and international border closures.
NAB CEO Ross McEwan says axing responsible lending laws won’t cause a jump in risky bank lending.
Switzer Daily
The Liberals won the Tasmanian election as predicted, but what will happen in the next Federal election?
14 May 2021
At 7.30pm Wednesday 12 May the Tasmanian Electoral Commission confirmed
the result of the general election held on Saturday 1 May. The Liberal Party
won 13 seats, Labor 9, and the Greens 2. The 25
th seat went to the Glenorchy
mayor, the independent Kristie Johnston, one of the five female members for the
Hobart-based Division of Clark. In the race for that 5
th Clark seat
Johnston polled 9,970 votes to 8,716 for the defeated independent Sue Hickey.
The other four Clark members are re-elected female incumbents, Elise