Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

The bank switching package was part of a range of measures which have been introduced by this government over time, including the ones I was talking about before, such as tough new laws to crack down on unfair mortgage exit fees. That is a very important reform, as are the strong reforms we are putting forward for credit cards and our $16 billion investment in AAA-rated RMBS. There are a number of other reforms, such as strengthening deposit funding for smaller lenders—that is a 50 per cent discount being phased up to $1,000 worth of interest income—and, of course, all of the bank guarantees. I think it is a comprehensive package which is going to help a lot of Australians.

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