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

My question is to the Treasurer. Many residents in our electorates of Calare and Kennedy, and in towns and cities across our great country, hold real fears that the use of cash in Australia is being phased out and will soon disappear. Will the government support my Keeping Cash Transactions in Australia Bill and keep cash king in our nation?

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I want to acknowledge the efforts of the member for Calare in in this regard and to thank him for the discussion that we had last time parliament sat about some of these important issues.

We as a government do recognise that many Australians prefer to use cash and that there have also been substantial shifts in consumer demand over time, in how people access cash and how they use banking services. When I released the changes we are proposing to the payment system, I went out of my way to ensure that people knew that we believe that there is a future for cash in our economy. Even as, over a long period of time, cheques will phase out and all the rest of it, the Prime Minister and I have acknowledged that there is a role for cash in our economy. I know this is especially a concern in regional communities, like the one that the member for Calare represents, and also, in my experience, amongst older Australians who have become used to using cash over a long time.

Our focus in the last little while has been working with banks, private sector providers, supermarkets, Australia Post and others to make sure that we continue to keep cash circulating in our economy. The Prime Minister, the Assistant Treasurer and I—and others—have been engaged in this really important question. In that regard I want to acknowledge and welcome the announcement by the Australian Banking Association—the major banks, the retailers—that they have reached a 12-month agreement with Armaguard for a financial contribution to its cash-in-transit business. This is a good outcome. It is a good thing for Australia while we work out some of these important structural issues in the market. I know that that agreement is subject to approval by the ACCC, but on the face of it I want to take the opportunity to welcome it.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The Treasurer will pause and I'll hear from the member for Calare.

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

Relevance, Mr Speaker. The question concluded with, 'Will the government support the bill?'

Milton Dick (Speaker) Share this | Link to this | Hansard source

That is not a point of order. I know that is the question but, under the standing orders, just as we had the opposition question—'a simple yes/no or figure'—I'm not compelled under the standing orders to ensure that the minister is answering it how you would like. The standing orders refer to being 'directly relevant'. The Treasurer is being directly relevant. He has the call.

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

I see these three parts of my answer as equally important. First of all, there is a future for cash in our economy. Secondly, we put a lot of effort in to ensure cash can continue to circulate in our whole country and not just in parts of our country. As I indicated to the member for Calare privately—and I'm happy to share publicly—we are prepared to consider the proposal he has put forward in his bill. I indicated to him some level of caution and concern about big penalties for small businesses who are already under a substantial amount of pressure. As always, with crossbench members in good faith, we see what we can do to accommodate the views that are put to us in a considered way, as this bill has been. I look forward to working with the member on it.

Bob Katter (Kennedy, Katter's Australian Party) Share this | Link to this | Hansard source

Point of order, Mr Speaker. I think the House should acknowledge your support for cash.

Milton Dick (Speaker) Share this | Link to this | Hansard source

Anyone interested can see me later. I give the call for the member for Higgins.