Bob Brown (Tasmania, Australian Greens) Share this | Hansard source

I take it from that that the minister discussed this potential legislation and the wholesale funding to be guaranteed with those specific banking representatives four weeks ago, including the New Zealand banking representatives or interests. I am aware of Kiwibank, of course, because Mr Jim Anderton, a former minister, went to an election, two or three elections ago, in New Zealand to have that established as a people’s bank in some reaction to the takeover of so much of the banking system by the big four Australian banks. I do not resile at all from calling this an initiative of the big four banks, because I have seen no evidence of and heard no evidence to say anything other than that this is primarily to facilitate their interests. I ask the minister if he could elaborate on what he told those banking organisations in the Pacific about this legislation that we are dealing with today.