Craig Kelly (Hughes, Liberal Party) Share this | Hansard source

Thank you, Mr Deputy Speaker. This bill addresses the issue of bank fees and charges to consumers and that is the issue that I am addressing. The question is the possible illegality of many forms of these bank fees, and that is something that a well-resourced ACCC should have been looking at, especially remembering that Australian consumers pay the highest bank fees in the Western world. But, as usual, the ACCC were asleep at the wheel on this issue—and no wonder, because the ACCC have been more interested in spruiking government policy.

As if to highlight the inaction of the ACCC on bank fees and charges, the UK Office of Fair Trading, the UK's equivalent of our ACCC, have been taking an active and vocal role in standing up for consumers by dragging the banks through the courts to challenge the legality of many of their fees. While the ACCC have closed their eyes, one might ask: where is the government's minister on competition? It would help if this government even had a competition minister. Following the disastrous stints of the members for McMahon and Rankin as failed competition ministers, this government no longer even has a competition minister. So, despite all the problems we have with competition in Australia, with the grocery duopoly punishing consumers—

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