STOP the Government trying to CONTROL how you use YOUR money!     

The Turnbull Government will soon introduce new laws which are stricter than those of the cashless debit card and apply them to all working Australians regardless of their income in an attempt to restrict how you use your money.

The proposed National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2017 is intended to further regulate, restrict and cap the amount you can repay on a small loan.

This is a massive intervention by government into the lives of every working Australian regardless of their income, to control how frequently you can access small loans, and how much you can borrow. This will affect the majority of borrowers as 81% are working Australians.

Furthermore, the proposed new regulations will force all consumers into larger and longer term loans which will end up costing you more money in fees. For example, a $1000 loan will be 20% to 55% more expensive for the consumer as a result of this action!

The government has lost sight of the fact that all Australians, in particular fully informed working Australians have a basic human right to choose any legal credit product without having their decision undermined or drive them to less restricted credit products such as credit cards as an alternative.

The proposed new restrictions will further entrench financial exclusion, limit what you can borrow and potentially impact your lifestyle and ability to access money when you most need it.    

 STOP the Government trying to CONTROL how you use YOUR money!