Senator CORMANN (Western Australia—Minister for Finance) (14:06): I thank Senator Dastyari for that question. I am very happy to confirm for Senator Dastyari that the government is committed to implementing our important improvements to the Future of Financial Advice laws in full. The legislation to give effect to that election commitment was introduced in the House of Representatives last week and is continuing to progress through the usual parliamentary process, including through a Senate inquiry to be chaired by my friend and colleague Senator Bushby, the chair of the Senate Economics Legislation Committee. What I have done, as a sign of good faith and to facilitate further consultation with key stakeholders in this particular area of public policy, is to say that we would not proceed immediately with pressing the go button on the regulations related to the legislation. I would just make the general point— Opposition senators interjecting— The PRESIDENT: Senator Cormann, just halt there for one moment because there is noise on my left. I need to be able to listen to the minister's answer. Minister, continue. Senator CORMANN: The Labor Party clearly does not enjoy it when a minister actually is directly relevant in answering the question. What I would just say here, by way of broader comment, is: the reform proposals that we have put forward are a very important part of our agenda to restore the balance between ensuring appropriate levels of consumer protection while ensuring that high-quality financial advice remains affordable for everyone. Labor in government imposed too much unnecessary, costly regulation on the sector, pushing up the cost of advice for consumers in the process. Every bit of additional and unnecessary advice pushes up the cost for those people who are saving for their retirement. We should not be imposing more costs on them than is absolutely necessary.