FSU hits back at FASEA bill stalemate

The political stoush around the FASEA extension bill has taken another turn, with the key trade union for financial services claiming the bill lost support because the government would not accept opposition amendments tabled several months ago.

In a communication sent to members on Thursday, FSU assistant national secretary Nathan Rees said the amendments proposed by the opposition to the omnibus bill containing the FASEA deadline extension measures were not news to the government when the bill was put on this week’s Senate agenda, as they had been tabled in February.

“The opposition tabled a proposed amendment to the bill in February. The government indicated this week that it would not accept the amendment,” Mr Rees said.

“The bill, at the time of writing, is now paused. Both the government and the opposition are blaming each other for the delay.”


Mr Rees said the FSU had written to the Treasurer, Assistant Treasurer, Minister for Finance, shadow assistant treasurer and shadow minister for financial services urging them to take all necessary steps to pass the bill.

“It is simply not good enough that your livelihoods and those of your staff are political footballs in the current climate,” he said.

“We have made it crystal clear that your part of the industry cannot afford further uncertainty, and that this uncertainty will cost jobs if not remedied.

“Australians are looking for political parties to work together to solve issues, not engage in finger pointing. We will continue to press the government and opposition for a resolution on this matter.”

Mr Rees said he would advise members further as discussions continued and advised FSU members to express their views directly to government Senate leader Matthias Cormann and shadow financial services minister Stephen Jones.

FSU hits back at FASEA bill stalemate
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