Bridget McKenzie (Victoria, National Party, Shadow Minister for Infrastructure, Transport and Regional Development) Share this | Link to this | Hansard source

We all know the feeling of tapping a card or waving our phone at the check-out. It's fast, it's convenient and it's become the norm. But, somewhere along the line, convenience has become compulsion. What happens when your card fails, when the power goes out or when the bank app crashes? Cash doesn't crash. Cash is absolutely king. Cash doesn't need an update. Cash works when the system doesn't.

Cash, our Australian notes and coins, is more than a payment method. It is legal tender in this country, backed by the Commonwealth, issued by the Reserve Bank and guaranteed by the Crown. It carries not only monetary value but sovereign values. It remains a symbol of trust between citizens and state. When that physical connection is lost, we surrender more than convenience; we surrender control.

In a cashless world, risk shifts silently. Once, banks bore the responsibility for safeguarding our deposits and ensuring access. Now the risk sits with the user—the consumer navigating outages, identity theft, data breaches, algorithmic errors and service fees. When your bank card is frozen, your e-wallet malfunctions or your app is hacked, you're the one that's left stranded. The system tells you to call customer service or wait for the investigation. But, when your hold cash in your hand, you've got a fail-safe.

Cash is also the great equaliser. It doesn't ask any questions about who you are, where you live, how good your credit rating is or what gender you are. For elderly Australians, those in remote communities and those who simply prefer privacy, cash remains a lifeline. Without it, millions are left excluded from everyday life, not through choice but through quiet coercion of no cash acceptance. Labor needs to protect cash.