Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

What I can guarantee you is that if we continue to put Australia's big businesses at a competitive disadvantage it will cost investment and it will cost jobs. Senator Wong seems to think that the banks are something abstract out there that don't have any relevance to our economy. The truth is that stronger and more profitable banks are important for small and medium-size businesses operating in our economy. It's important for shareholders. It's important for self-funded retirees. Every self-funded retiree will have a large chunk of their retirement savings invested in banks, because they provide a reliable income stream for self-funded retirees—something that Labor doesn't understand. (Time expired)