Senate debates Questions without Notice

Banking and Financial Services


Gerard Rennick

Gerard Rennick Queensland, Independent

2:59 pm

Australians don't want foreign social media companies controlling their free speech, yet that is exactly what happens with our banking system, whereby the government allows domestic banks to borrow unsecured credit from foreign banks with no controls in relation to earnings capacity or security. Will the Treasurer take responsibility for the volume of credit in Australia rather than allowing it to be controlled by foreign central banks?

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