Tony Abbott is right now introducing laws that will put the profits of big banks and dodgy financial planners ahead of the savings of working Australians. If we can make enough noise over the next week we can stop him but we have to start right now and it has to start with you.
Can you sign on and tell Tony Abbott not to strip away our protections from big banks and dodgy financial planners? http://bit.ly/1cTbv5R
The new laws remove the requirement for financial planners to act in the best interest of their clients. They also allow the return of harmful and hidden commissions. According to independent modelling these changes will cost Australians $7 billion in lost savings every year.1
Can you sign on to help stop working Australians from being ripped off? http://bit.ly/1cTbv5R
The architect of these new laws is a former top bank official. Arthur Sinodinos – John Howard’s chief advisor in government – was an executive at the powerful National Australia Bank before entering Parliament. NAB and the other big banks are the big winners in these changes. They stand to make billions.
These laws are the worst type of legislation. They put the interests of the powerful way ahead of the interests of everyday people. If we stand together we can make sure that the welfare of people is the first priority.
Yours sincerely,
Ged Kearney and Australian Unions Team
P.S. Tony Abbott is looking to push his new laws through under the cover of the "repeal day" stunt he is holding next week. "Repeal day" is supposedly about getting rid of outdated laws. These laws couldn't be more relevant. Sign on to oppose his changes here: http://bit.ly/1cTbv5R
1 "Peter Collins Industry Super Australia, workinglife.org.au/2014/03/05/could-your-savings-again-be-in-the-eye-of-the-storm"