Page 4652 - Week 15 - Wednesday, 15 December 1993
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That is a very simplistic comment, but it is one that we ought to reflect on. Perhaps the other comment we ought to reflect on is that banks should be as ethical as most of the people who try to do business with them. If banks had that in mind there would be very few problems.
Unfortunately, Madam Speaker, despite the good news, the positive hope that consumer choice will change the market, there is also the sinister and difficult aspect of powerful vested interests which still remains. There is no denying that. This must be dealt with by governments and by consumers becoming more aware and more educated about what their banks offer. Complaining is just one aspect. The Victims of the State Bank is another consumer campaign which has met with some success. Members will realise that the Liberal Party has been in the forefront of that, with Mr Stevenson, for a long time. It is not as if this is something that we on this side of the house have been speaking of on the spur of the moment. In the end, however, Madam Speaker, it will be the consumer who wields the axe, the consumer who politely removes his money from the larger banks and invests it with the smaller banks whose competitive products make up for the lack of size and perceived lack of security. In the end people will say, "How secure is a larger bank whose practices are or may be unethical? Why am I paying to give you my money? Why are you charging me to make money out of me? Why is not your service excellent? Why am I fighting for something I have already worked so hard for?". Perhaps, Madam Speaker, the market will change, and it will be about time.
MADAM SPEAKER: The discussion has concluded.
DAYS OF MEETING - 1994
MR BERRY (Deputy Chief Minister) (4.00): I seek leave of the Assembly to amend notice No. 1, executive business, standing in my name on the notice paper.
Leave granted.
MR BERRY: I amend the notice to add an additional sitting week of Tuesday, Wednesday and Thursday, 1, 2 and 3 March 1994. I move:
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