The Coalition will oppose any move to tighten the wholesale investor test, as Labor grapples with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
The decision means the government could be forced to secure support from the Greens and the Senate crossbench for the legislative response to its review into managed investment schemes.
Loading...
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com