But wait, there will be more from these Senate Prima-Dons and...

But wait, there will be more from these Senate Prima-Dons and Prima-Donnas!
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Consumers will be slugged with higher costs for financial advice after the Senate
voted to drop the federal government's financial planning laws, the Finance Minister has said.

Yesterday independent Senators Jacqui Lambie and Ricky Muir stood by Labor and the Greens
to throw out the government's Future of Financial Advice reforms.
Ms Lambie's move in particular has shocked the government after the Palmer United Party
senator agreed to support the passage of bills earlier this year.
"The Senate's vote to disallow the government's improvements to our financial advice laws,
after supporting them twice over the past four months, is bad news for consumers and for
small business financial advisers," Finance Minister Mathias Cormann said.

Mr Cormann suggested Senator Lambie's decision to stand against the government on the bill was
due to her troubled relationship with PUP leader Clive Palmer. Mr Palmer removed Ms Lambie
as deputy senate leader and deputy whip of the party yesterday after failing to attend three party
meetings in one week. "Sadly, good public policy reform which the Government took to the last
election has now been caught up in internal minor party disputes," he said.
"By disallowing our FOFA improvements the Senate tonight voted to increase the cost of financial advice
and to lessen competition across the financial advice industry without improving
consumer protections for Australians saving for their retirement.
"This is not in the public interest."

Read more:
http://finance.ninemsn.com.au/newsbusiness/aap/8931211/consumers-to-pay-for-advice-law-ditching
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Nagh; what's another mud puddle to wade through for us; adversity-lapping-hardened PIFers?

Regards,