Joe O'Toole (Independent)

I want to remonstrate gently with the Minister. It is very easy to agree in this House that we need to get a balance in terms of the stringency of the Financial Regulator. Senator Coghlan and I made an impassioned appeal in this House, with full support from all sides, when the Director of Corporate Enforcement approached the Government two years ago, at a time when he was dealing with the directors of a bank — not under discussion today — who were in some trouble, that his office be given the additional 30 staff it was felt he needed. The Department reluctantly conceded a number of extra people, that number being in single figures, but I stand to be corrected. It would be good to achieve a balance in the current structures so that the Financial Regulator can do what he needs to do with the necessary resources.