30 August 2021

Five months ago, Labor wrote to the Morrison Government warning that its 160 per cent fee hike on financial advisors was hurting hundreds of small businesses. 
We asked for prompt action. We received silence. 
We have only one question. Why did it take the Morrison Government so long? 
For many financial advisors and their families, today’s welcome cut to the ASIC industry levy will come too late. 
They needed financial relief in April when Labor called for it. 
Once again, the Prime Minister who doesn’t hold a hose, wouldn’t sign a vaccine contract, and didn’t build a national quarantine network has gone missing when action was needed. 
With half the Australian population in lockdown, the national economy bleeding billions of dollars a week because of Scott Morrison’s incompetence, and real wages going backwards, there has never been a more important time for them to access reliable, independent, and affordable financial advice. 
Instead of doing everything it can to make sure they get it, the Morrison Government has been dragging the chain and risking the long-term financial health of working families.