Page 251 - Week 01 - Wednesday, 13 February 1991

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on. I do not believe that we can put aside so many years of neglect of this area by rushing impulsively into a program of prison construction, as it were, and all the rest. Those issues have to be faced very carefully. I thank any other members who have made comments in this debate since the matter was raised, and I undertake to keep the house informed of the progress of this review.

Question resolved in the affirmative.


Motion (by Mr Collaery) proposed:

That the Assembly do now adjourn.

Westpac Bank

MR MOORE (4.29): Mr Speaker, already revealed in this morning's paper were the fraudulent bank loans of Westpac and its wholly owned subsidiary, Partnership Pacific Ltd. I am aware of the sub judice aspect of this matter, Mr Speaker, and I shall be careful. Yesterday in the upper house of the Federal Parliament Senator Paul McLean argued that public revelation of the documents was critical, as they revealed the potential to destroy the backbone of small business and farming while serving banking greed.

The documents I tried to table last night admit in themselves that the attached information, which is referred to as "bundle 2", was "devastating", and later, "most clients would not expect PPL's documents to provide them with a 'treasure trove' which they in fact present".

The documents are a clear indication of the guilt of Westpac, not only to their clients but to the Australian population in general.

MR SPEAKER: Order! Mr Moore, I am trying to follow this to ensure that we do not go against the ruling I gave yesterday, and unfortunately I cannot understand what you are saying.

MR MOORE: I am sorry, Mr Speaker. I am aware that I have only five minutes and I am trying to make sure that I fit my speech into that.

It is clear that PPL was involved in point taking. By this process Westpac simply stole money from its clients. It was a blatant act of theft and they used a suspense account to "park" transactions that "would have caused difficulties" with the Reserve Bank limitations - hardly the appropriate response for a responsible corporate citizen. Even more damning is the admission that the

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