Time to make banks act in public interest

In response to Westpac’s interest rate rise, Greens treasury spokesperson Adam Bandt MP today said it’s time for banks to act in the public interest and called on Treasurer Scott Morrison to reconsider the Greens’ public support levy.

“The big four banks make world-leading record profits off the back of public support,” Mr Bandt said.

“Yet as soon as they’re asked to make themselves more secure, they hit the public by jacking up their interest rate and making their customers pay more.”

“It’s time to make the big banks deliver for the public.”

“The Treasurer should reconsider a ‘public support levy’ on the big four banks to raise revenue without hitting customers.

“This would bring in around an extra $3 billion a year to help fund the schools, hospitals and services that the Australian community needs.”

Media contact: Adam Pulford, 0429 109 054

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