from Alison Ryan
There was a public forum in Parliament House on 7 September making the case for a public postal bank.
Former New Zealand Cabinet Minister Matt Robson attended, and “concluded from what he saw that Australia is well on the way to winning the bank. Australia has a real chance to achieve a public bank that the public will take ownership of, ensuring politicians won’t be game to try to privatise it, which Matt Robson reported has been NZ’s experience.”
(From Australian Alert Service, 14 September 2022)
Robert Barwick commented in the AAS that:
“The existing political support for a public post office bank is unusually bipartisan, ranging from the Greens to One Nation, Katter’s Australian Party, many individual members of the Nationals and ALP, including senior figures, and even members of the Liberal Party. All parliamentary political parties were represented at the forum, either by politicians or their staffers.
Member for Kennedy Bob Katter, whose support for Christine Holgate and the LPOG was pivotal in forcing last year’s inquiry, is a staunch advocate of public banking, and spoke of the potential for investment in economic development. Mr Katter is preparing a bill, called the Commonwealth Postal Savings Bank Bill, which would establish a Commonwealth government-owned banking corporation, separate from Australian Postal Corporation with its own board and management, but with a permanent agency agreement to operate through post offices. The bill’s provisions include that the bank is guaranteed by the Commonwealth government; the agency agreement must ensure that Australia Post and the LPOs receive full and fair payment for providing the infrastructure for banking services; the bank will provide full banking services, including taking deposits and advancing loans; the bank may lend for housing, small and medium enterprises including farms, and local, state and federal infrastructure projects; the bank must act in the public interest; and the bank must give priority to access to banking services.
One Nation Senator Malcolm Roberts said a public bank is needed to hold the private banks accountable and to ensure banking services for all communities. Liberal Senator Gerard Rennick described himself as a passionate backer of a people’s bank, both as an essential service, and as an instrument of monetary policy to direct investment into the economy. National Party Senator Ross Cadell attended but was called back to the chamber before he had a chance to speak. Closing the forum, LPOG Executive Director Angela Cramp said post office people were delighted at the support for a postal bank. “We have the network; we’re ready for the work,” she said. “Bring it on.””
A postal people’s bank is clearly both in Australia’s national interest, and is the long-term solution for Australia Post. It is also the solution for regional banking needs.
We really do need a public bank – but I’m very concerned that those political party members and their staff will end up controlling it – like before with the Commonwealth bank. We have only one bank now operational – and very part-time. Operates 3 days a week between 10:30 and 1:00pm. And they are also looking at closing up shop and leaving us in the dirt before too long!
How in hell can it be owned by the commonwealth government? There aint no such animal. There’s the AUSTRALIAN GOVERNMENT, which we all know is not the Commonwealth of Australia Parliament (the real commonwealth government), and if you let them have a hand in it ANYWHERE, will subvert it into something THEY want, and to hell with the public.
Yes, we need a Commonwealth Postal Bank but dont make it a Corporation.
Corporatising everything has been the demise for these once great ‘Commonwealth/People owned’ services!
‘I am all for an Australian bank at the Post Office.’ But can we really hope that will be done? There is a say: ‘God help me. Amen. For, where God built a church, there the devil would also build a chapel…’
I support thee idea of an Australia Post Bank, but hope the Austalia Post Everydaycard and Mastercard tie-up is no indicator of the kind of set-up that would be established, I had 5 fraudulent transactions on my Everyday Card, Mastercard absolve themselves of all responsibilty and suggest I contact the merchant who it tuns out is in Eastern Europe or Ukraine and whose site is totally in some Cryllic language. Mastercard merrily processed 5 x transactions totalling $260 over several days without qualm.
I am all for an Australian bank at the Post Office. That is where the Commonwealth Bank used to be On my many trips around Australia , it was so convenient to go to any small town , and withdraw the cash I needed.I will be one person fighting to keep using cash. Bring on an Australia Post Bank.
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Germany has been wiped out twice in the last 100 years, yet 70% of its banking is STILL in the hands of 100s of small community banks.
In Australia and Britain 90% is in the hands of a handful of BIG banks. That’s what the money changers want in Germany and throughout Europe. And they’re in the process of creating yet another disaster for Germany and Europe to make sure they get what they want.
The Russia-Ukraine game is not the only game in town! The demolition of Germany and the key European economies is well under way too. Don’t hold your breath hoping that the stranglehold the Money Changers have on Australia’s money supply will be eased.