Ian Macdonald (Queensland, Liberal Party) Share this | Hansard source

First, I thank Senator Anning for raising this issue—a very, very topical and important issue, particularly with the royal commission going on and some of the stories that have been coming out. Following Senator Hanson, I might say that her comments about the Commonwealth Bank and Bankwest are very, very accurate. I remember when the Commonwealth Bank took over Bankwest. Bankwest had some horrific banking propositions, particularly up in gulf country of north-west Queensland. I well remember some of the very dodgy, you'd almost say, banking deals that happened when the inevitable drought came in the gulf country—as they always will, in cycles—and the attitude of Bankwest. At the same time as this was happening, the Commonwealth Bank took over, and it was very difficult to get a sympathetic hearing. I personally know some people in that gulf country of Queensland who were victims of some very, very questionable banking practices at the time involving the particular banks that Senator Hanson was talking about.

Mr Acting Deputy President Williams, before I proceed further with my contribution today, I want to pay tribute to you for your relentless and long-term campaign to bring the banks to account. I know from history that you've had some personal experience in years gone by, and I do remember the very, very substantial assistance you gave to people, including some constituents of mine. When I was at a bit of a loss to understand how to help them, I got them to speak with you, and they are forever grateful, then and today, for your contribution and the way you assisted them and brought the banks to account.