Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I thank the member for Oxley for that very important question. There has been a range of commentary in recent days about monetary policy and banking regulation. The shadow Treasurer made his views well known this morning: he wants to re-regulate interest rates and wants to take punitive action against banks, and if we will not do so then the parliament should. Those were the words that he used this morning.

There has been a range of commentary today. The member for Cook was asked about this. He was asked what action should be taken. He said, ‘An infinite number of measures.’ But he could not name a single one. That was the member for Cook. The member for Mayo was asked about this, and he said, ‘I’ll let Joe Hockey talk about what, what, what we’ll do.’ That was the response of the member for Mayo. But you can always count on the member for Wentworth. He has been out there a lot: the Turnbull wing of the Liberal Party. He was out there today and was asked about this very important commentary.

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