Appropriation Bill (No. 1) 2008-2009: Consideration in Detail

My office and I have, because of my interest in this area, received a number of complaints and calls of concern about mortgage brokers from not only residents in my electorate but also people outside of my electorate. One young lady contacted my office a couple of weeks ago and was very upset. She said that a mortgage broker had-

My concern is about mortgage brokers. I make the point that the Baird committee in the previous parliament made important recommendations about it. I make the point that a green paper has now been released recommending the licensing and the oversight of mortgage brokers by either APRA or ASIC. I think that is a good thing; I think it is an important thing. Constituents of mine and others have made that point to me; they would like to see some action. I would like some advice from the minister about what the government’s intentions are with regard to the implementation of the recommendations of the Baird committee and, more importantly, the options that are canvassed in that green paper.’