Who was ever told as a child to, “leave it how you found it”?
The idea was simple… at the very least do no harm.
Apparently, Scott Morrison, Josh Frydenberg, Kelly O’Dwyer and Jane Hume were never taught this lesson. This is very apparent with the current state of the financial advice sector as they face getting the boot from an electorate in the near future once the election is called.
At no stage did these rather incompetent lot figure they should actually talk to people who understood how the system worked. Instead they opted for academics or association types with no practical understanding of the plumbing of the system they were seeking to change. This has resulted in a plethora of “unintended consequences” all of which was flagged by experienced practitioners. My Linkedin timeline makes me wish I could place stock bets with as much foresight to what comments I made about the changes they made to financial services.
Anyway, now that they have caused irreparable damage they will no doubt move on with undeserved sense of entitlement to other higher paid and high profile jobs. They will leave the mess to others left behind as they try to salvage their careers, businesses and the good old notion of assisting mum and dad Aussies with getting their finances sorted.
What’s next?
It looks likely they Liberal will be given their marching orders by an electorate that would rather opt for the madness as offered by the ALP whom can solve climate change by completely dismantling our economy by turning our backs on the natures gifts that made this country prosperous.
So what will this mean for the tired and weary financial advice sector?
The new Minister will be a gentleman by the name of Stephen Jones. I recently caught a dinner he hosted for the AIOFP (the association that actually tries to influence policy) where he said he understood the level of change that had occurred. This being the case the ALP had no intentions of making any major changes. He importantly spoke about the AIOFP educating him on the sector over the last few years and their efforts had seen him change his mind on a number of issues which he conceded he was originally mistaken. Take a bow Peter Johnston that is effective representation for your members.
I don’t believe they will have the upper house as it appears to be the exception not the norm in modern politics with Howard being the last to have that luxury. I think you will see increased representation it what is being dubbed the freedom parties which include Australia United, One Nation and Liberal Democrats. These along with the Greens and others will hold the balance of power restricting the ALP ability to implement their policies unchecked.
In 2019 I was horrified of the thought of an ALP victory now I figure what’s the difference?