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In this interview, Assistant Treasurer Bill Shorten reaffirms the Government’s vision for encouraging greater banking competition. He explains the plan for supporting a so-called ‘fifth pillar’ of non-bank lenders and addresses the role of superannuation funds in achieving a budget surplus.
In this podcast, Garry and Leon look at the Reserve Bank’s decision to keep interest rates on hold – for now. But the big four banks will give the RBA until next month to raise rates, or they say they will go it alone. In other news, the Department of Finance looks at $2.4 billion in cuts to pay for the pledges it made during its negotiations with the Independents, and the Housing Industry Association predicts a steep fall in housing starts as the federal stimulus measures fade.
In the first annual People's Choice awards for Australia's Best Bank, 23,000 banking customers cast their votes online for their most preferred financial institution. The voting was conducted by Mozo, an online finance comparison and reviews service.