David Smith (Bean, Australian Labor Party) Share this | Hansard source

Financial abuse is, without a doubt, a form of domestic and family violence. It can leave victims and survivors in unfathomable positions. Many do not recover; many do not survive. This must end. That is why I support this motion's unequivocal condemnation of the use of bank accounts to perpetrate abuse, the use of money to control victims of economic abuse, and the disgraceful exploitation, and in some cases sabotage, of a person's finances to undermine their financial security and limit their ability to be independent and self-sufficient.

As the world continues to transition to online financial services, the rates of financial abuse are going to continue to increase if we do not act. A 2017 study on economic abuse between cohabiting partners found that 16 per cent of women and seven per cent of men had experienced financial abuse in their lifetimes. This study also established that age, disability, financial stress and health status were significant risk factors, especially for women. For example, 63 per cent of women who experienced high financial stress and 24 per cent of women with disability or long-term health conditions had experienced financial abuse as well. Middle-aged and older women also more commonly experienced financial abuse.

Many members of this House may have friends or family with firsthand experience of this type of abuse. I certainly have, and I saw that abuse cross and damage generations. It's critical that all governments work together on these issues. Inconsistency will cost lives and livelihoods. That's why governments at all levels need to be pulling in the same direction. As my colleagues have touched on, this issue cannot be left to one party, one government or one state or territory, nor can the resolution be left to a small part of the community. That is why this government, in partnership with state and territory governments across Australia, is committed to addressing the underlying factors that drive gender based violence as well as rates of violence.

Through the National Plan to End Violence against Women and Children 2022-2032 that we released along with the states and territories last year, this government has set a goal to end violence against women and children in one generation. The National Plan to End Violence against Women and Children aims to address the underlying drivers of gender based violence to prevent violence before it occurs; to intervene early and prevent further escalation; to respond appropriately when violence is used; and to support the recovery and healing of victims-survivors in ways which put them at the centre.

The Albanese government has invested $2.3 billion in women's safety, including more than $326 million in prevention initiatives specifically across our first two budgets. This includes funding for initiatives like our consent and respectful relationships education, sexual violence prevention pilots and funding to support the work of Our Watch, the national leading organisation for the primary prevention of family, domestic and sexual violence in Australia.

Ending violence against women and children is everybody's responsibility and everybody's business. If we are to successfully end violence in one generation, we must ensure our social security safety net recognises the circumstances of people who are experiencing violence. Victims of family, domestic and sexual violence should not be unfairly punished as a result of how their relationship is recognised under social security law.

Finally, I thank the member for Swan for moving this motion and for the leadership she has demonstrated on this issue. There will be many victims, survivors and organisations who will be empowered by the strong stance this parliament has taken on this issue, as well as by this parliament's united commitment to victims and survivors of financial abuse to ensure that we as a nation can enable generational change and eliminate it.

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