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Sinodinos to defuse Labor’s industry landmines

Assistant treasurer Arthur Sinodinos has signalled his commitment to cutting regulatory burdens on business and moving in a different direction from Labor on financial services policy.

In a letter thanking stakeholders for their “generous support” since he was elected to parliament, Senator Sinodinos outlined his priority issues in his new ministerial portfolio.

“I was immensely honoured to be appointed assistant treasurer by Prime Minister Tony Abbott,” Mr Sinodinos said.

“It is a terrific portfolio dealing with important economic issues affecting us all … I am also working hard to implement our election commitments, whilst sorting out the landmines left by Labor in areas like taxation, financial services and superannuation.”

However, Mr Sinodinos also said the Coalition government aims to “minimise complexity that stimulates the demand for expensive accounting, legal and tax advice”, indicating the professional advice sector may not be the new government’s top priority.