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Lucky you: MFAA, FBAA say new government is 'good news' for brokers

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Australian Broker | 09 Sep 2013, 08:00 AM Agree 0
Both Phil Naylor and Peter White agree: Australians made the right choice on Saturday and brokers stand to benefit
  • sidbroker | 09 Sep 2013, 10:19 AM Agree 0
    To MFAA. and FBAA. OK GUYS ITS SHOW TIME. Now is the time for you both to earn your salt. NCCP needs to be bought way back under control the same as what we have just done to Mr. Rudd and Labor. No point in talking abbott the Abbott Govt. not messing with things to much. The FACT is NCCP is not workable. Where were you both when Rudd, Swan and Co. bought it in. I will tell you that you kept your heads low and just let them roll over the top of all Australains. Time to fix it guys. I for one have you on notice.
  • M C | 09 Sep 2013, 10:34 AM Agree 0
    Interesting comments. If you are asked many overseas economic analysts you might find them scratching their heads to understand why the Government had to change? One of the Coalitions key policy platforms was the removal of the Carbon Tax which the coalition advised was the reason why consumers were paying more for energy usage. Consumers hip pockets have been hurt considerably via increased utility & transport costs over the last 10 years. The NSW commission of Audit report in May 2012 evidences there was a 43% increase in energy prices between 2007 & 2010, well before the Carbon Tax was inrtroduced & due to large Capex program being undertaken by the likes of Transgrid. Those Capex costs were passed on to consumers in higher prices. Not wanting to 'rain on the parade' but take care in just considering less regulation will suddenly make life somehow easier. Making sweeping statements about stable government needs to be substituted by reaching sound conclusions after researching facts.
  • L S | 09 Sep 2013, 12:40 PM Agree 0
    With the CONservatives now in, I'm out.
  • MelbBroker | 09 Sep 2013, 02:08 PM Agree 0
    sidbroker, what part of NCCP isn't working? I think it is doing exactly what it was designed to do - raise the barriers to entry for our industry and also raise the standing of brokers with other finance professionals. We have no fear of regulation; at each stage we have already implemented processes before the legislation was amended (to catch up to us?)
  • Jim W | 09 Sep 2013, 03:16 PM Agree 0
    Just shows how much the two organizations know?
    I agree with LS
  • Ted | 09 Sep 2013, 06:27 PM Agree 0
    @MC. the truth is that the increases were a direct result of the cost of the coal to fire the pawer stations. the coal producer were contracted to supply this coal at around $19 per ton. when the came of these contract the new contract were renegotiated at the new market rate which is or was around $80+ per ton. sorry to rain on your parade mate. these increased costed got pasted on. these are facts.
  • MCC | 10 Sep 2013, 11:41 AM Agree 0
    Ted,

    I dont disagree. Obviously the increased commodity pricing of coal has to be passed on to the consumer & that would have a significant bearing on increased energy costs. I'm just saying it wasn't the 'Carbon Tax' in 2007. I'm also pointing out that long overdue capex programs from the likes of Transgrid contributed as well. Their full financials are available on the appropriate website & back then you can see what the planned, current & completed projects were. NOT Carbon Tax! If we have a problem with Carbon Tax lets change the name to 'Pollutions Tax' if it makes us more understanding. While we are there we can change the word 'Taxation' to 'Community Contribution', if you get my drift.
  • Lyn from Sydney | 10 Sep 2013, 04:56 PM Agree 0
    The lessons both broking organisations must keep in mind are:
    1. Joe Hockey did an early morning deal with Bill Shorten, in Tony Abbott's office, not to oppose the 2012 NCCP Enhancements Bill, without even allowing it to go to the Party Room for discussion.
    2. Traditionally, the Liberal Party has never looked any further than big business.
    3. There are very few LNP Members and Senators who have self-employment and small to medium business experience.
    4. The consumer advocate professional lobbyists leave the broking industry for dead when it comes to lobbying influence.
    We can only hope that both the CEOs representing brokers finally get the message that you need a broad front of cooperation between lenders and brokers to get anywhere with the NCCP Act and everything around it and that "getting along" with the new government doesn't guarantee anything at all.
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