The decision by the NAB not to pass on the Reserve Bank rate cut in full was a greedy decision. It is completely and utterly unjustified by any of the fundamentals when it comes to their borrowing requirements. I conveyed my view directly to the chief executive, Mr Cameron Clyne. I passed it on a very directly. I did not only make my views public, I put them privately as well—as I have done when, on other occasions, banks have done that. And I will continue to do that when I believe these decisions are unjustified.

The reason the government has put in place a comprehensive package of banking reforms is to enable customers that are unhappy with their bank to go down the road—