The state which has lost the greatest percentage of regional bank branches since 1975 will host the next hearing of the Senate inquiry on Wednesday in Kingston SE.
South Australia is a banking “desert”, with many towns completely debanked and others left with only one bank to serve customers for hundreds of kilometres.
The Reserve Bank of Australia (RBA) is exposing itself to be aligned with elite banking interests against the people of Australia.
It’s therefore imperative Australians rally to defeat the current bill giving up the Treasurer’s authority to overrule the RBA, to keep a democratic check on the unelected RBA’s power.
The number one political question for 2024 is why is Treasurer Jim Chalmers voluntarily giving up his power over interest rates to a Reserve Bank governor who dismisses the cries of pain of millions of households smashed by 13 interest rate rises in two years as “political noise”?
The Australian Citizens Party (ACP) today urged all Australians to participate in the Senate inquiry into the new Reserve Bank Reforms bill, so that the major political parties don’t get away with sweeping one of the biggest political issues of all time under the carpet.
The Big Four bank CEOs would have been extremely unhappy on Friday as they monitored the Canberra hearing of the Senate inquiry into bank closures in regional Australia.
What they heard in that hearing is literally their worst nightmare: strong advocacy for a government-owned bank, operating through post offices, to force the Big Four to truly compete.
