Malcolm Turnbull (Wentworth, Liberal Party, Leader of the Opposition) Share this | Hansard source

My question is again to the Acting Treasurer. I note the Acting Treasurer has conceded that payment under the wholesale guarantee cannot be made without an appropriation bill being passed by parliament. Is the Acting Treasurer aware that Standard and Poor’s has ruled it will not give the government guarantee a AAA credit rating unless the payment on the guarantee is ‘unconditional, irrevocable and timely’? Why won’t the government act to fix this flawed guarantee and allow banks to receive its full benefits, which must then be passed on to the millions of Australian customers through lower interest charges and fees?

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