Doorstop interview: Nationals Party leadership, payday lending reforms

TIM HAMMOND MP, SHADOW MINISTER FOR CONSUMER AFFAIRS: Good morning everyone, Tim Hammond is my name. I’m Labor’s Shadow Minister for Consumer Affairs, and obviously I’ve just flown in overnight from Perth.

 

I read this morning that the National Party’s tin ear for conflicts just extends even further: their newest Cabinet member, David Littleproud, has a direct interest in a rent-to-buy business in Southern Downs that is currently flogging off fridges that would normally cost you $1,700 for about $8,000.

 

Now many will be aware that Labor has been trying to offer bipartisan support to fix the area of payday loans and rent-to-buy schemes for almost two years now, to no avail. We almost got there, under the perhaps soon-to-be new leader of the Nationals, Michael McCormack, who actually got legislation through the Cabinet process last year, only for it to be pushed off to the long grass, allowing the ‘Parliamentary Friends of Payday Lending’ have their way, and pretend this legislation never existed.

 

Well, it’s not good enough.

 

Today I will introduce into the Chamber a private member’s bill to amend the Small Amount Credit Contracts laws in exactly the same way that the Government bill purported to do. We have not changed a sentence; we have not changed a word.

 

So today the Government has a choice. Will they vote for their own bill that some would like to pretend never existed, that we will introduce? Will they vote for their own bill so we can take steps to protect over 620,000 Australians who are trapped in a vicious debt spiral of payday loans and rent-to-buy schemes?

 

David Littleproud, now a Cabinet member, has to explain to the Prime Minister, and probably to his new leader, whether he has taken steps to declare what is clearly a conflict of interest. As someone who has a direct interest in making sure vulnerable Australians are trapped in a debt spiral he has to make a call now. Does he continue on to profit from vulnerable Australians, or does he do the right thing, adopt cabinet solidarity and actually vote for his own bill? We’re going to put him to the test today, we’ll put the Nationals to the test today, and we’ll see whether they can actually leave their conflicts behind. I doubt it but we’ll give it a go.

 

Thank you, have a good day.