Westpac is planning to remove the final branch from Opal Regional Centre Coober Pedy. The next branch is 440 kms away.
Senator Rennick made a statement on this in the Senate yesterday. And after a town meeting on Monday, it was clear this decision would adversely hit the town commercially, socially and from a mental health perspective.
The Advertiser ran an article on the closure, which may not yet be a done deal.
So, if you care about this issue, I suggest contacting the SA Premier Peter Malinauskas premier@sa.gov.au https://www.dpc.sa.gov.au/the-premier and Westpac CEO Peter King https://www.westpac.com.au/about-westpac/westpac-group/executive-team/ and John McFarlane Chairman and Independent Non-executive Director https://www.westpac.com.au/about-westpac/westpac-group/board-of-directors/ https://banking.westpac.com.au/olfmu/eforms/ConsumerFeedback/#/welcome
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We (Dale Webster and I) have written to the Senate Standing Committee on Regional and Rural Affairs and Transport about the economic fallout from the removal of in person banking services across Australia. Today I discuss this with Robbie Barwick from The Australian Citizens Party and the need to lobby Senate members on this important issue.
If you care about the economic future of our regional towns and suburbs, then please contact your local Senators and tell them that they should support the initiative, ideally over the next few days, so as to create maximum impact in the final sitting weeks of the year.
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I caught up with Senator Rennick (LNP Queensland) after his recent outings in Senate Estimates and his speech on Superannuation. We explored the broader economic issues which we face, and why we need some different approaches from our regulators and the RBA.
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Digital Finance Analytics (DFA) Blog
Getting Better Economic Outcomes: With Senator Gerard Rennick [Podcast]
Another extract from the recent Senate Estimates with the RBA. This on consolidates Nick McKim’s questions about inflation, and what is driving it – and whether higher interest rates cause more inflation!
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Another in our series of Senate Estimate shorts, this one where Senator Rennick asks about the Australian Gold held by the Bank of England in their vaults.
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Another in our series of shorts from the Senate Estimates quizzing the RBA. In this one Senator Matthew Canavan probs the financial status of the bank. Go to the Walk The World Universe at https://walktheworld.com.au/
The RBA was in Senate estimates today and a good range of important topics was discussed. First off the rank is Senator Rennick talking about the Term Funding Facility (TFF) where Tax-Payer money is subsidizing bank profit.
Given the world have changed dramatically since the TFF was launched, this inequitable scheme should be closed out, along the lines of the ECB.
Kudos to Senator Rennick for tabling the issue.
More RBA shorts coming ahead!
The latest edition of our finance and property news digest with a distinctively Australian flavour.
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The Homebuilder programme was discussed in Senate Economics Legislation Committee today and revealed that the original budget of around $680 million blew out to over $2.7 billion dollars, and that it was responsible for helping to push up the costs across the construction industry. In addition, renovations were a large part of the exercise, wtih few controls on what could be renovated, Sounds like massive waste of taxpayer money.
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