Andrew Broad (Mallee, National Party) Share this | Hansard source

It gives me pleasure to talk about the Major Bank Levy Bill 2017 and the Treasury Laws Amendment (Major Bank Levy) Bill 2017. Let's begin by saying that banks are a partner to Australians reaching their aspiration. As a young, hardworking tradie, when I was 22 I managed to convince the bank to loan me $400,000 so I could buy my first farm. I would not have been able to buy my first farm if the bank had not loaned me the money, so I was able to turn a dream into a reality through the help of finance. So banks are a partner to us. This is not about bagging the banks, this is not about being overly critical of the banks; this is actually about them being a partner back to the Australian people. I also remember the wise words of a guy called John Fox who came to see me as a 22-year-old with a massive debt. He said, 'If you get yourself in trouble, son, come and talk to us.' Agriculture, which was the field that I had invested in, was one of those things where the wind can blow against your face and it does not work for you. He said, 'Just come and talk to us.' And I think that is what people are looking for in our banking sector. They want a bank that is a partner. To achieve their dreams and aspirations, they want to make repayments and pay off that investment they have bought or that house they have dreamed of owning, but they see the bank as a partner.

But we—the Australian people and the Australian government—are also a partner to the banks. In the global financial crisis the banks came to us and said, 'Would you be our guarantor?' And we did that, not only because we believe in a strong and stable financial system; we also wanted to give confidence to Australians that had money in the bank. So now, as we find ourselves in a situation where, as a country, we have national debts to pay back, it is fair and reasonable that the banking sector should contribute to returning the balance sheet of the Australian people to a healthy position.

I find it fascinating that for a long time the opposition was critical of us, saying we were too close to the banks—we were friends with the banks. Now that we bring in what is essentially a levy, they are looking for a point of difference instead of just embracing it. I think they do need to embrace it, and I am pleased that they are getting there, even if it is through gritted teeth.

I believe that the big four Australian banks need to show more of a partnership with regional Australia. What I am increasingly seeing is the likes of Bendigo Bank—some of the smaller tier, second banks—opening community banking branch models in our regions. But, as an MP representing one-third of the state of Victoria—a profitable third, I have to say, if you look at the $5.3 billion worth of economic activity in my patch—it saddens me that the big four banks are still shutting down branches in our country towns. They are arguing that people are accessing their finances online. That is true to an extent, but you still have to go somewhere to open an account, and, when you are dealing with substantial payments going into your bank account from suppliers, you want to have someone you can talk to.

To conclude my remarks, can I say that we are a partner to the banks. We have been their guarantor. We are surprised at any push back on us, the Australian people, asking them to contribute. I think this contribution is fair, reasonable and measured, and I commend the Treasurer for it. But I also ask for their ongoing partnership with regional Australia in providing the services that regional Australia requires so that people can maximise their opportunities and their dreams. They cannot do that if the branch is shut. I would say to the big four: 'You're making plenty of money. Provide the service to regional Australia.' That is my plea, and it is my sincere belief that it is their obligation as responsible financial lenders.

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