The government’s decision to drop the ‘veto power’ in the super reform package came after Barnaby Joyce revealed he and others had “a real problem” with it.
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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.
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.