Pacific Banking Guarantee Bill 2025

Senator ROBERTS (Queensland) (12:47): Minister, if it is good to ask the Pacific banks, which include the ANZ, for a premium for the guarantee, why hasn't your government asked for the same premium from the same banks for their Australian banking guarantee? The Australian taxpayers, everyday men and women of this country, deserve their fair share of the extra profit that their guarantee creates, which could be over $1 billion a year of revenue for your government.

These are the world's most profitable banks. The taxpayers are subsidising their borrowing costs. So why don't you ask for a fee for their services in Australia because of the guarantee in Australia?