Matthew Canavan (Queensland, Liberal National Party) | Hansard source

I move:

At the end of the motion, add ", but the Senate:

(a) affirms that cash is critical national infrastructure, and that access to cash remains essential for millions of Australians, particularly older Australians and those in regional and remote communities;

(b) notes that when a natural disaster strikes, the power goes out, or communications networks fail, it is cash that keeps working;

(c) expresses concern that the Government has failed to act sooner, noting that:

(i) the risks to the cash distribution system have been evident since the Australian Competition and Consumer Commission (ACCC) approved the Linfox Armaguard Pty Ltd and Prosegur Australia Holdings Limited merger in June 2023,

(ii) by Easter 2024 the system was brought to the brink of crisis, requiring an emergency meeting chaired by the Governor of the Reserve Bank of Australia to secure a rescue package, and

(iii) the Government has acted only in the final weeks before the ACCC's enforceable undertaking expires in September 2026, and that delay has placed the ongoing strength of Australia's cash system at risk; and

(d) expresses further concern about the Government's ongoing failure to address bank branch closures, and its lack of any plan for when the moratorium on regional branch closures ends on 31 July 2027".