Senate debates

Wednesday, 20 November 2024

Questions without Notice

Banking and Financial Services

2:59 pm

Photo of Gerard RennickGerard Rennick (Queensland, Independent) Share this | Hansard source

Australians don't want foreign social media companies controlling their free speech, yet that is exactly what happens with our banking system, whereby the government allows domestic banks to borrow unsecured credit from foreign banks with no controls in relation to earnings capacity or security. Will the Treasurer take responsibility for the volume of credit in Australia rather than allowing it to be controlled by foreign central banks?

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