Keep rural banks open. Make shareholders pay.

Independent Member for Murray Helen Dalton says the federal government’s plan to stop the closure of rural banks branches should be paid for by bank shareholders, rather than bank customers.  

“We must keep rural and regional bank branches open,” Helen said. 

“But the banks are making record profits, literally in the billions,” Helen said. “They should not be crying poor and they should not be trying to shift any more costs on to customers.” 

“Bank shareholders should pay for the cost of any new levy.” 

Under the proposed federal government plan, banks in the cities may be forced to pay a levy in order to fund the survival of banks in rural and regional areas.  

But the major banks are now threatening to pass the cost of any levy on to customers.  

“The major banks can’t operate without a social license. When banks close regional and rural branches, they can end up destroying the viability of whole towns.” 

“This move by the government is very important, and long overdue. The major banks need to accept this levy.” 

“They should not be running a scare campaign about passing a levy on to customers.” 

“Shareholders should agree to give up a fraction of their record profits so that the major banks don’t continue to destroy rural and regional areas.”  

Discussions between the major banks and the federal government are continuing.