Michelle Rowland (Greenway, Australian Labor Party, Minister for Communications) Share this | Link to this | Hansard source

The Albanese government is taking action on unfair debit card surcharges. In August, I hosted a cost-of-living forum in my electorate with Stephen Bali, the state member for Blacktown. We wanted to engage with the local community to provide updates on Labor's energy bill and cost of medicines relief and to hear their concerns and ideas. At the forum, I met Alexis of Stanhope Gardens, who raised concerns with me about excessive debit card fees.

I took Alexis's feedback to my ministerial colleagues here in Canberra and made her case. I'm pleased to say that Alexis and all consumers in my electorate will now get a better deal under the Albanese government thanks to our clampdown on unfair and excessive card surcharges.

Staggeringly, analysis by the Reserve Bank shows that Australians lose nearly $1 billion a year in surcharges. This means families, pensioners and students in Greenway alone could be paying up to $6.4 million annually just in surcharges. It is unfair that payment providers and banks are slugging small and medium businesses with excessive fees for transactions. We need better outcomes for businesses and better outcomes for consumers. That's why our government has tasked the Reserve Bank with finding solutions to ensure that small businesses and consumers benefit from lower costs and our government has made clear our preparedness to ban debit card surcharges. This is an important issue for households right across north-west Sydney. It's why I've launched a survey on my website to hear firsthand how debit card surcharges are impacting residents. I encourage locals to take part.

I'm also pleased to report that the Albanese government is ensuring the future of cash. For many people, cash is more than just a payment method. It's a lifeline and a backup during digital outages, which we have seen so many times, particularly during natural disasters. Labor will mandate that businesses must accept cash for essential items, and there will be appropriate exemptions for small businesses. My No. 1 priority is easing the cost of living for the good people of Greenway, and Labor is taking important steps as a government to ensure this.