Andrew Gee (Calare, Independent) Share this | Hansard source

I move:

That so much of the standing and sessional orders be suspended as would prevent the following from occurring immediately:

(1) the Member for Calare introducing the Keeping Cash Transactions in Australia Bill; and

(2) debate on the second reading of the bill proceeding for a period of no longer than one hour, after which any questions required to complete passage of the bill then being put without delay.

Since I introduced the Keeping Cash Transactions Bill to this House, I have been overwhelmed with the response not only from around the electorate of Calare but also from around our nation. The response has been so positive and so forceful because people are worried that cash is going to be phased out. This groundbreaking legislation preserves the use of cash in our national economy. It does this by legislating that businesses operating in face-to-face settings must offer to accept and, crucially, must accept cash payments for transactions that do not exceed $10,000. The bill provides for maximum civil penalties of $5,000 for individuals and $25,000 for companies—and it should be noted that they are civil penalties as opposed to criminal penalties. The bill also provides some important and practical exemptions to these requirements. They include that offering to accept cash would pose a reasonable security risk; that it would be contrary to another law of the Commonwealth or a law of a state or territory; that it would be contrary to the Commonwealth, state or territory health advice such as advice provided during a pandemic; and that cash in the form of change is needed but not readily available.

It defies belief that cash can be legal tender in this country but businesses are not obliged to accept cash for transactions. All they have to do is make it known to a customer that cash is not accepted and they don't have to accept it. This is causing a huge amount of anxiety and grief in our communities, particularly our country communities. Many senior Australians do not want to use cards for their transactions. The Reserve Bank of Australia has found that Australians over the age of 65 are the heaviest users of cash. To many older Australians, cash is not just a convenience; it's a lifeline. In these times of economic uncertainty and rising costs, cash is actually an essential tool for managing finances and sticking to a budget.

Many Australians find managing accounts and cards online to be a very stressful experience, and they find it confusing. Many Australians, particularly older Australians, don't want to use online banking or online accounts. I should point out, coming from a rural and regional area, that cash is often used in rural areas by individuals who don't have ready access to banking services. Many constituents in the Calare electorate are also worried that, if they are forced to switch to cards, they will face additional fees in the form of bank surcharges—and that is a very good point. Many Australians are now waking up to the fact that banks and financial institutions charge merchant fees for card transactions which can then be passed on to consumers. It's an insidious tax that is added to transactions just by tapping a card. It's been estimated that Australians are losing more than a billion dollars a year in surcharges when they pay by card and not by cash.

I've had feedback from local businesses about my Keeping Cash Transactions in Australia Bill. Many businesses actually want to keep cash as well; they don't want to switch to being solely digital. But, like many in our community, they are worried there may be an agenda either by governments or by large corporations to phase cash out.

In country areas, we also need to consider the practicalities of internet connectivity. In many regional and rural areas reliable internet access does not exist, and cash remains a dependable means of exchange that does not rely on electricity or internet access. The bottom line is that cash transactions are unaffected by digital failures. During natural disasters like fires or floods, connectivity can be disrupted for many days—sometimes longer—rendering electronic payments unusable.

As I've said, many Australians prefer cash as a means of managing their budget so they can physically see the money and it can be allocated to different expenses. I ask you: how can we teach our children about the value of money and budgeting if they don't actually know what it is? Other Australians worry about privacy and the risk of fraud associated with using cards. Many Australians have been victims of fraud and unauthorised transactions relating to cards and accounts linked to them. Privacy is another reason some Australians prefer to use cash over cards. And some people simply don't like or want corporations knowing every single thing they buy. It should be their choice, and they should have the right to use cash if they want to.

This bill is not about imposing burdens and regulations on businesses; it's about striking a balance between innovation and inclusivity and preserving the essence of choice in our financial transactions and in our economy. It's about the freedom of Australians to choose how they will pay for their transactions.

I note that the government has responded to my Keeping Cash Transactions in Australia Bill by stating that there is a plan to make cash transactions compulsory for essential services. I accept the Treasurer and the member for Fenner have worked on this with the best will in the world, but unfortunately I don't think it is the approach that most in our communities would support. I think, speaking frankly, it's a second-best approach that acknowledges that the community wants action to keep cash, but I don't think it will be effective. I don't think it will stop businesses phasing out the use of cash. I don't think it will keep cash king in Australia. I think it will only end up applying to big businesses and, while it may force the supermarket giants and big fuel companies to keep cash, it won't go much further.

I think Australians around our nation who still want to use cash for everyday transactions will be disappointed by the government's response to this issue. In country areas there are many people who don't buy their food and groceries from major supermarket chains, and they use cash to buy a whole range of goods and services which won't be caught by the government's so-called mandate. What the government is proposing simply is not strong enough. If the government is serious about keeping cash in Australia, it should be backing my bill. That's why this bill needs to be discussed and debated in this House and passed as a matter of urgency. Australians should have the confidence to carry cash in their wallets knowing that they can use their legal tender to make a purchase anywhere at any time

As I've said, there are many people in our community who are crying out for action on this, and they haven't received it from this parliament. That's what my bill remedies. I would urge all members to support this bill. I think that this bill is vital to protect the right of Australians to choose how they will pay for their transactions. That's not a choice that should be made for them by financial institutions or businesses. So I commend this motion to the House and I urge Australians all over our great nation to get behind this bill and lobby their members of parliament to support this bill to preserve the use of cash in our society and in our economy. Many Australians are feeling marginalised by the move to a digital economy, they feel that they are being left behind and they feel that their voices are not being heard. They want to keep cash king in Australia. So I would urge all members to back this motion and keep cash king in Australia.

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