‘Broken promise’: Coalition accused of dudding financial crime victims

Michael Read and Michael Roddan

Apr 1, 2022 – 4.23pm

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The Coalition has been accused of leaving victims of financial misconduct in limbo to the tune of $53 million because it did not pass bipartisan legislation for a compensation scheme, but the government says it is still committed to the policy.

With Prime Minister Scott Morrison expected to call an election in the coming days, there is no time left in this term of Parliament for the government to legislate its compensation scheme for victims of financial misconduct.

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.

Michael Roddan is a Walkley Award-winning national correspondent based in Sydney. He is a former business and economics reporter for The Australian.