Pauline Hanson (Queensland, Pauline Hanson's One Nation Party) Share this | Hansard source

One Nation will support this amendment put up by Senator Whish-Wilson of the Greens. We are going to support this because I think what the banking executives get in their remuneration package—between $10 million and $20 million—does not pass the pub test as far as Australians are concerned. The minister states that it is not the government's responsibility to get into private business, but this is not the government getting into private business. As I see it, the banking sector is a necessity that Australians have to use. It is a service that is important to their everyday needs and requirements in running their businesses and their lives. It is something Australians have to use.

The fact is that the Australian taxpayer guarantees the banking sector, so we do have a very important decision to make here, because if ever the banking sector were to fail then the taxpayers would be picking up the bills. So the taxpayers do have a right to have an input and a say into the remuneration that is paid—which is out of the realms of common sense. It is important that we have this discussion and the Australian taxpayers have a right to know the government's stance on this and why the government are not prepared to rein it in, when there is another country in the world that has done the same with their banking sector.