Footnotes

Chapter 2 - Recent trends in small business finance

[1]        Treasury, Submission 50, p. 1, citing ABS data. The ABS defines a small business as one employing fewer than 20 people.

[2]        Mr Jim Murphy, Executive Director, Markets Group, Treasury, Proof Committee Hansard, 10 May 2010, p. 2.

[3]        The drift from 'small' to 'large' loans apparent over the 15 years covered by the chart would be, at least partly, attributable to inflation.

[4]        Reserve Bank of Australia, Financial Stability Review, March 2010, p. 30.

[5]        Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 12.

[6]        Mr Peter Anderson, Australian Chamber of Commerce and Industry, Proof Committee Hansard, 10 May 2010, p. 15.

Chapter 3 - Causes of the slowdown in small business finance

[1]        Reserve Bank of Australia, Submission 2, p. 1.

[2]        Dr Guy Debelle, Assistant Governor, Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 18.

[3]        Mr Keith Chapman, Australian Prudential Regulation Authority, Committee Hansard, 12 April 2010, p. 57.

[4]        Mr Graham Johnson, Australian Prudential Regulation Authority, Committee Hansard, 12 April 2010, p. 57.

[5]        Mr Jim Murphy, Executive Director, Markets Group, Treasury, Proof Committee Hansard, 10 May 2010, p. 2.

[6]        Mr Graham Johnson, Australian Prudential Regulation Authority, Committee Hansard, 12 April 2010, p. 57.

[7]        Mr James Tate, Chief Product Officer, Westpac Banking Corporation, Committee Hansard, 12 April 2010, p. 69.

[8]        ANZ Bank, Submission 40, p. 3.

[9]        Mr Graham Johnson, Australian Prudential Regulation Authority, Committee Hansard, 12 April 2010, p. 57.

[10]      Reserve Bank of Australia, Submission 2, p. 3.

[11]      CPA Australia, Submission 46, p. 5.

[12]      Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 2.

[13]      Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 3.

[14]      Mr Brewis-Weston, Commonwealth Bank of Australia, Committee Hansard, 12 April 2010, p. 105.

[15]      Mr Joseph Healy, Group Executive, Business Banking, National Australia Bank, Proof Committee Hansard, 10 May 2010, p. 26.

[16]      Mr Graham Johnson, Australian Prudential Regulation Authority, Committee Hansard, 12 April 2010, p. 58.

[17]      Mr Healy, National Australia Bank, Proof Committee Hansard, 10 May 2010, p. 25.

[18]      Mr Suryan Chandrasegaran, Submission 3, p. 1.

[19]      Dr Peter Burn, Director of Public Policy, Australian Industry Group, Committee Hansard, 12 April 2010, p. 54.

[20]      Westpac, Submission 31, p. 2.

[21]      Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 1.

[22]      Mr Münchenberg, Australian Bankers' Association, Committee Hansard, 12 April 2010, pp 1-2.

[23]      Mr Münchenberg, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 4.

[24]      Mr Münchenberg, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 11.

[25]      Mr Münchenberg, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 1.

[26]      NARGA, Submission 29, p. 4.

[27]      Mr Healy, National Australia Bank, Proof Committee Hansard, 10 May 2010, p. 23.

[28]      Mr Graham Johnson, APRA, Committee Hansard, 12 April 2010, pp 58-59.

[29]      APRA, Committee Hansard, 12 April 2010, pp 66-67.

[30]      Mr Healy, National Australia Bank, Proof Committee Hansard, 10 May 2010, p. 25.

[31]      Reserve Bank of Australia, Submission 2, p. 3.

[32]      Treasury, 'Key themes from Treasury's business liaison program', Economic Roundup, issue 4, 2009, p. 53.

[33]      Westpac-ACCI Survey of Industrial Trends, March quarter 2010; ACCI, Submission 32, p. 17.

[34]      ACCI, Submission 32, p. 16.

[35]      ACCI Survey of Investor Confidence, January 2010. The credit-related factors are 'charges by lending institutions' (ranked 7^th most important), 'insufficient retained earnings' which arguably implies inadequate external financing (9^th) and 'level of interest rates' (10^th).

[36]      Sensis, Submission 25, p. 2. The finance industry found it particularly difficult.

[37]      Australian Industry Group, Submission 14, p. 5.

[38]      WA Small Enterprise Network, Submission 18, p. 3.

[39]      Australian Industry Group, Submission 14, p. 6.

[40]      Real Estate Institute of Australia, Submission 37, p. 5.

[41]      Australian Retailers' Association, Submission 45, p. 9.

[42]      Mr Wolfe, Chief Executive, Housing Industry Association, Proof Committee Hansard, 10 May 2010, p. 43.

[43]      Dr Peter Burn, Director of Public Policy, Australian Industry Group, Committee Hansard, 12 April 2010, p. 43.

[44]      Reserve Bank of Australia, Submission 2, p. 3.

[45]      Mr Peter Anderson, Chief Executive, ACCI, Proof Committee Hansard, 10 May 2010, p. 9. The general council comprises the presidents and chief executives of the major chambers of commerce from every state and territory, together with 26 industry associations.

[46]      Ms Jaye Radisich, Chief Executive Officer, Council of Small Business of Australia, Proof Committee Hansard, 10 May 2010, p. 73.

[47]      Housing Industry Association, Submission 7, p. 1. See also their chief executive's evidence, Proof Committee Hansard, 10 May 2010.

[48]      Housing Industry Association, Submission 7, p. 13. The submission includes more detailed results from the member survey.

[49]      Mr Jock Kreitals, Manager, Policy, Real Estate Institute of Australia, Proof Committee Hansard, 10 May 2010, p. 42.

[50]      Australian Securities and Investments Commission, Submission 17, p. 6.

[51]      Dr Pi-Shen Seet and Dr Chris Graves, Submission 48, p. 2.

[52]      Mr Jim Murphy, Executive Director, Markets Group, Treasury, Proof Committee Hansard, 10 May 2010, p. 2.

Chapter 4 - Costs and conditions of small business finance

[1]        Reserve Bank of Australia, Submission 2, p. 2.

[2]        Reserve Bank of Australia, Statement on Monetary Policy, May 2010, pp 43-44.

[3]        Professor Milind Sathye, Submission 6, p. 2.

[4]        Mr David Richardson, Australia Institute, Submission 47, p. 8.

[5]        Reserve Bank of Australia, Submission 2, p. 4.

[6]        Mr David Richardson, Australia Institute, Submission 47, p. 5.

[7]        Mr Stephen Cartwright, Chief Executive Officer, New South Wales Business Chamber, Committee Hansard, 12 April 2010, p. 88.

[8]        National Farmers' Federation, Submission 49, p. 8.

[9]        Mr Jim Murphy, Executive Director, Markets Group, Treasury, Proof Committee Hansard, 10 May 2010, p. 3.

[10]      Mr James Tate, Chief Product Officer, Westpac, Committee Hansard, 12 April 2010, p. 71.

[11]      Mr Ian Narev, Commonwealth Bank, Committee Hansard, 12 April 2010, p. 102.

[12]      Reserve Bank of Australia, Financial Stability Review, March 2010, p. 29.

[13]      Dr Guy Debelle, Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 19.

[14]      Mr Ian Narev, Commonwealth Bank, Committee Hansard, 12 April 2010, p. 102.

[15]      Mr Greg Evans, ACCI, Committee Hansard, 10 May 2010, p. 14.

[16]      Mr Kreitals, Real Estate Institute of Australia, Proof Committee Hansard, 10 May 2010, p. 42.

[17]      Mr Kreitals, Real Estate Institute of Australia, Proof Committee Hansard, 10 May 2010, p. 42.

[18]      Mr David Liddell, Senior Policy Officer, Queensland Tourism Industry Council, Proof Committee Hansard, 10 May 2010, p. 45.

[19]      Mr Richard Payne, Queensland Motor Trades Association, Proof Committee Hansard, 10 May 2010, p. 46.

[20]      Mr Payne, Queensland Motor Trades Association, Proof Committee Hansard, 10 May 2010, p. 46.

[21]      Mr Charles Burke, Vice-President, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 59.

[22]      Mr John Cummings, Chairman, NARGA, Committee Hansard, 12 April 2010, p, 35.

[23]      Australian Industry Group, Submission 14, p. 7.

[24]      Dr Anthony Poiner, General Manager, National Segments and Operations, St George Bank, Committee Hansard, 12 April 2010, p. 73.

[25]      Reserve Bank of Australia, Submission 2, p. 6.

[26]      ACCI, Submission 32, p. 11.

[27]      Pharmacy Guild of Australia, Submission 19, p. 3; Mr Scott McGregor, Pharmacy Guild of Australia, Proof Committee Hansard, 10 May 2010, p. 41.

[28]      Australian Bankers' Association, Submission 23, p. 6.

[29]      Dr Peter Burn, Australian Industry Group, Committee Hansard, 12 April 2010, p. 46.

Chapter 5 - Competition in the market for small business finance

[1]        Mr Jock Kreitals, Manager, Policy, Real Estate Institute of Australia, Proof Committee Hansard, 10 May 2010, p. 55.

[2]        Housing Industry Association, Submission 7, p. 10.

[3]        WA Small Enterprise Network, Submission 18, p. 4.

[4]        Mr Greg Evans, Director of Economics and Industry Policy, Australian Chamber of Commerce and Industry, Proof Committee Hansard, 10 May 2010, p. 10.

[5]        Mr Richard Payne, Principal Policy Director, Queensland Motor Trades Association, Proof Committee Hansard, 10 May 2010, p. 46.

[6]        Reserve Bank of Australia, Submission 2, pp 4, 6.

[7]        Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 5.

[8]        David Richardson, Senior Research Fellow, Australia Institute, Submission 47, p. 2.

[9]        Dr Guy Debelle, Assistant Governor (Financial Markets), Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 18.

[10]      Mr Philip Chidamo, Chief Economist, Australian Industry Group, Committee Hansard, 12 April 2010, p. 46.

[11]      Dr Debelle, Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 24.

[12]      Dr Debelle, Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 25.

[13]      Council of Small Business of Australia, Submission 27, p. 3. See also the comments by their chief executive officer, Proof Committee Hansard, 10 May 2010, p. 78.

[14]      Mr Chindamo, Australian Industry Group, Committee Hansard, 12 April 2010, p. 51.

[15]      Mr Stephen Cartwright, Chief Executive Officer, New South Wales Business Chamber, Committee Hansard, 12 April 2010, p. 88.

[16]      Mr Peter Anderson, Australian Chamber of Commerce and Industry, Proof Committee Hansard, 10 May 2010, p. 14.

[17]      Mr Charles Burke, Vice-President, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 66.

[18]      Mr Jim Murphy, Executive Director, Markets Group, Treasury, Proof Committee Hansard, 10 May 2010, p. 4.

[19]      Mr Murphy, Treasury, Proof Committee Hansard, 10 May 2010, p. 4.

[20]      Mr Mark Degotardi, Abacus, cited in House of Representatives Standing Committee on Economics, Competition in the Banking and Non‑Banking Sectors, November 2008, p. 84.

[21]      House of Representatives Standing Committee on Economics, Competition in the Banking and Non‑Banking Sectors, November 2008, p. 86.

[22]      Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 6.

[23]      ASIC, 'Review of mortgage entry and exit fees', Report no. 125, April 2008, p. 7.

[24]      ASIC, 'Review of mortgage entry and exit fees', Report no. 125, April 2008, p. 8. Smaller banks charged an average of $700 and building societies and credit unions an average of $400. The majority of building society and credit union mortgage products did not have exit fees.

[25]      Mr Ric Battellino, Deputy Governor, Reserve Bank of Australia, quoted in House of Representatives Standing Committee on Economics, Competition in the Banking and Non‑Banking Sectors, November 2008, p. 78.

[26]      Mr Jim Murphy, Executive Director, Markets Group, Treasury, Proof Committee Hansard, 10 May 2010, p. 5.

[27]      ASIC, 'Review of mortgage entry and exit fees', Report no. 125, April 2008, p. 22.

[28]      ASIC, 'Review of mortgage entry and exit fees', Report no. 125, April 2008, p. 23.

[29]      Justice Morris in Director of Consumer Affairs Victoria v City Finance Loans and cash Solutions 2008, cited in ASIC, 'Review of mortgage entry and exit fees', Report no. 125, April 2008, p. 23.

[30]      Ms Jaye Radisich, Chief Executive Officer, Council of Small Business of Australia, Proof Committee Hansard, 10 May 2010, p. 77.

[31]      Mr Chindamo, Australian Industry Group, Committee Hansard, 12 April 2010, p. 52.

[32]      NSW Business Chamber, response to questions on notice.

[33]      Mr James Tate, Chief Product Officer, Westpac, Committee Hansard, 12 April 2010, p. 76.

[34]      NSW Business Chamber, response to questions on notice.

[35]      Report on Australia's Future Tax System, December 2009, p. 479.

[36]      Australian Bankers' Association, response to questions on notice.

[37]      Government measures to address confidence concerns in the financial sector – The Financial Claims Scheme and the Guarantee Scheme for Large Deposits and Wholesale Funding, September 2009, p. 19.

[38]      Government measures to address confidence concerns in the financial sector, p. 31.

[39]      Treasury, Submission 50, p. 14.

[40]      Australian Bankers' Association, response to question on notice.

[41]      Treasury, Submission 50, pp 14-15.

Chapter 6 - Structural change in the market for small business finance

[1]        Senate Economics References Committee, Report on Bank Mergers, September 2009, pp 5-6.

[2]        See the discussion in Group of Ten, Consolidation in the Financial System, January 2001, pp 278-286. A related concern often expressed is that foreign banks are less interested than domestic banks in lending to small businesses, although the evidence for this is mixed; see J Hawkins and D Mihaljek, 'The banking industry in the emerging market economies: competition, consolidation and systematic stability: an overview', Bank for International Settlements, BIS Papers, no 4, August 2001.

[3]        This literature is summarised in Group of Ten, Consolidation in the Financial System, January 2001, pp 284-5; A Berger, R Demsetz and P Strahan, 'The consolidation of the financial services industry: causes, consequences and implications for the future', Journal of Banking and Finance, 1999, vol 23, no 2, pp 135-194; E Carletti, P Hartmann and G Spagnolo, 'Implications of the bank merger wave for competition and stability', Risk Measurement and Systemic Risk, CGFS Conference volume, no 2, October 2002, pp 39-42 and Senate Economics References Committee, Report on Bank Mergers, September 2009, p. 36.

[4]        T Beck, L Klapper and J Mendoza, 'The typology of partial credit guarantee funds around the world', draft World Bank working paper, March 2008, provided by NARGA in response to a question on notice, p. 1.

[5]        T Beck, A Demirgfi-Kunt and V Maksimovic, 'Bank competition, financing obstacles and access to credit', World Bank Policy Research Working Papers, no. 2996, March 2003, p. 2.

[6]        Mr Jim Murphy, Executive Director, Treasury, Committee Hansard, 12 March 2009, p 30.

[7]        David Morgan, 'Changing the game', address to Trans Tasman Business Circle, 26 July 2007. Since this speech was given, some of those larger organisations would have shrunk or closed.

[8]        Reserve Bank of Australia, Submission 2, p. 2.

[9]        Westpac, Submission 31, p. 2.

[10]      APRA, responses to questions on notice.

[11]      APRA, responses to questions on notice.

[12]      Mr Stephen Cartwright, Chief Executive Officer, New South Wales Business Chamber, Committee Hansard, 12 April 2010, p. 88.

[13]      Australian Industry Group, Submission 14, p. 9.

[14]      Mr Stephen Cartwright, Chief Executive Officer, New South Wales Business Chamber, Committee Hansard, 12 April 2010, p. 99.

[15]      Australian Retailers' Association, Submission 45, p. 6.

[16]      Commercial Asset Finance Brokers Association of Australia, Submission 22, p. 2.

[17]      Australian Chamber of Commerce and Industry, Submission 32, p. 20.

[18]      Mr Greg Evans, Director of Economics and Industry Policy, Australian Chamber of Commerce and Industry, Proof Committee Hansard, 10 May 2010, p. 10.

[19]      Westpac, Submission 31, p. 2.

[20]      Mr Joseph Healy, 'Banks, business lending and the economy', 17 February 2010, p. 6, reprinted in NAB, Submission 44, attachment 1.

[21]      Commercial Asset Finance Brokers Association of Australia, Submission 22, p. 2.

[22]      Western Australian Farmers' Federation, Submission 26, p. 2.

[23]      Mr John Cummings, Chairman, NARGA, Committee Hansard, 12 April 2010, p. 32.

[24]      Mr Frank Sirianni, Consultant, Pharmacy Guild of Australia, Proof Committee Hansard, 10 May 2010, p. 47.

[25]      Professor Milind Sathye, Proof Committee Hansard, 10 May 2010, p. 18.

[26]      Ms Louise Petscher, Chief Executive Officer, Abacus, Proof Committee Hansard, 10 May 2010, p. 36.

[27]      Senate Economics References Committee, Report on Bank Mergers, September 2009, p. 54.

[28]      Mr Suryan Chandarsegaran, Submission 3, p. 3.

[29]      Mr Ross Wood, Submission 10, p. 2.

[30]      National Civic Council, Submission 51, p. 3.

[31]      Mr Jim McCormack, Submission 4, p. 2. See also Mr Peter White, Submission 8, p. 1; Mr Philip Osmak, Submission 13, p. 1; Mr Patrick Ariens, Submission 52, p. 1.

[32]      KfW has an English language webpage: http://www.kfw.de/EN_Home/index.jsp.

[33]      National Civic Council, Submission 51, pp 4-5.

[34]      National Civic Council, Submission 51, pp 5-6.

[35]      Professor Milind Sathye, Proof Committee Hansard, 10 May 2010, p. 18.

[36]      National Civic Council, Submission 51, p 7.

[37]      National Civic Council, Submission 51, p 7.

[38]      Treasury, Submission 50, p. 21.

[39]      Mr Peter Anderson, ACCI, Proof Committee Hansard, 10 May 2010, p. 13.

[40]      NSW Business Chamber, responses to questions on notice.

[41]      Australian Bankers' Association, response to questions on notice.

[42]      Professor Milind Sathye, Proof Committee Hansard, 10 May 2010, p. 19.

[43]      Mr Mark Degotardi, Head of Public Affairs, Abacus, Proof Committee Hansard, 10 May 2010, p. 36.

[44]      National Civic Council, Submission 51, p. 3.

[45]      Mr Paul Orton, Director, Policy and Advocacy, New South Wales Business Chamber, Committee Hansard, 12 April 2010, p. 93.

[46]      Mr John Cummings, Chairman, NARGA, Committee Hansard, 12 April 2010, p. 39.

[47]      See, for example,  the Melbin family, Submission 5; Australian Industry Group, Submission 14, p. 7; Pharmacy Guild, Submission 19; Motor Trades Association of Queensland, Submission 20; COSBOA, Submission 27a; NSW Business Chamber, Submission 33, pp 7-8 and ASIC, Submission 17, p. 4.

[48]      Australian Securities and Investments Commission, Submission 17, p. 3.

[49]      Australian Bankers' Association, Submission 23, p. 2.

[50]      Westpac, Submission 31, p. 3.

[51]      Choice's submission to the Committee's inquiry into bank mergers drew on Roy Morgan polling indicating that larger banks consistently have lower customer satisfaction. See Report on Bank Mergers, p. 17.

[52]      CPA Australia, Submission 46, p. 5.

[53]      Attaché Software, Submission 15, p. 1.

[54]      WA Small Enterprise Network, Submission 18, p. 2.

[55]      House of Representatives Standing Committee on Industry, Science and Technology, Small Business in Australia: Challenges, Problems and Opportunities, 1990, p. 205.

[56]      NSW Business Chamber, Submission 33, pp 12-13.

[57]      Ms Jaye Radisich, Chief Executive Officer, Council of Small Business of Australia, Proof Committee Hansard, 10 May 2010, p. 79.

[58]      The Senate Standing Committee on Economics released a report on this proposal in May 2009.

[59]      Ms Jaye Radisich, Chief Executive Officer, Council of Small Business of Australia, Proof Committee Hansard, 10 May 2010, p. 74.

[60]      NSW Business Chamber, Submission 33, p. 12.

[61]      S Zecchini and M Ventura, 'The impact of public guarantees on credit to SMEs', Small Business Economics, 2007, p. 204, provided by Professor Milind Sathye in response to a question on notice.

[62]      M Cowling, 'The role of loan guarantee schemes in alleviating credit rationing in the UK', University of Sussex Institute for Employment Studies working papers, no WP7, February 2007, provided by NARGA in response to a question on notice.

[63]      Uruguay established a scheme in 1896!

[64]      T Beck, L Klapper and J Mendoza, 'The typology of partial credit guarantee funds around the world', draft World Bank working paper, March 2008, provided by NARGA in response to a question on notice, pp 2-3.

[65]      T Beck, L Klapper and J Mendoza, 'The typology of partial credit guarantee funds around the world', draft World Bank working paper, March 2008, p. 25.

[66]      Treasury, Submission 50, p. 20.

[67]      Treasury, Submission 50, p. 20.

[68]      Dr Guy Debelle, Assistant Governor (Financial Markets), Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 26.

[69]      T Beck, L Klapper and J Mendoza, 'The typology of partial credit guarantee funds around the world', draft World Bank working paper, March 2008, provided by NARGA in response to a question on notice, p. 6.

[70]      Dr Peter Burn, Australian Industry Group, Committee Hansard, 12 April 2010, p. 48.

[71]      Mr Greg Evans, ACCI, Proof Committee Hansard, 10 May 2010, p. 11.

[72]      Professor Milind Sathye, Proof Committee Hansard, 10 May 2010, p. 18.

[73]      Mr Micah Green, NSW Business Chamber, Committee Hansard, 12 April 2010, p. 94; NSW Business Chamber, responses to questions of notice.

Chapter 7 - Improving financial literacy and codes of conduct

[1]        Dr Peter Burn, Australian Industry Group, Committee Hansard, 12 April 2010, pp 45-47; and AiG's Submission 14, p. 10.

[2]        Australian Securities and Investments Commission, Submission 17, p. 5.

[3]        Treasury, Submission 50, p. 16.

[4]        Mr Paul Orton, Director, Policy and Advocacy, New South Wales Business Chamber, Committee Hansard, 12 April 2010, p. 99.

[5]        NSW Business Chamber, responses to questions on notice.

[6]        Unnamed building society or credit union, cited in Abacus, Submission 42, p. 3.

[7]        Ms Sian Lewis, General Manager, Retail Business Banking, Westpac Banking Corporation, Committee Hansard, 12 April 2010, p. 70.

[8]        ANZ Bank, Submission 40, p. 3. See also their evidence, Proof Committee Hansard, 10 May 2010, p. 28.

[9]        Mr Nick Reade, General Manager, Small Business Banking, ANZ Bank, Proof Committee Hansard, 10 May 2010, p. 28.

[10]      NSW Farmers' Federation, Submission 43, p. 5.

[11]      CPA Australia, Submission 46, p. 2.

[12]      Dr Anthony Poiner, General Manager, National Segments and Operations, St George Bank, Committee Hansard, 12 April 2010, p. 70.

[13]      Mr Lonsdale, Treasury, Proof Committee Hansard, 10 May 2010, p. 6.

[14]      Ms Jaye Radisich, Chief Executive Officer, Council of Small Business of Australia, Proof Committee Hansard, 10 May 2010, p. 76.

[15]      CPA Australia, Submission 46, p. 12.

[16]      CPA Australia, Submission 46, pp 13-14.

Chapter 8 - Rural finance

[1]        Mr Charles McElhone, Manager, Economics and Trade, National Farmers' Federation, Proof Committee Hansard, 10 May 2010, p. 61.

[2]        P Martin et al, Australian farm survey results, 2007-08 to 2009-10, ABARE, April 2010, pp1, 6.

[3]        P Martin et al, Australian farm survey results, p. 7.

[4]        P Martin et al, Australian farm survey results, p. 20.

[5]        P Martin et al, Australian farm survey results, 2007-08 to 2009-10, ABARE, April 2010, p. 20.

[6]        Mr Mike Norton, President, Western Australian Farmers' Federation, Proof Committee Hansard, 10 May 2010, p. 60.

[7]        Mr Mike Norton, President, Western Australian Farmers' Federation, Proof Committee Hansard, 10 May 2010, p. 60.

[8]        National Farmers' Federation, Submission 49, p. 4.

[9]        Mr Norton, Western Australian Farmers' Federation, Proof Committee Hansard, 10 May 2010, p. 60.

[10]      Mr Charles Burke, Vice-President, National Farmers' Federation, Proof Committee Hansard, 10 May 2010, p. 71.

[11]      Mr Steven Münchenberg, Chief Executive Officer, Australian Bankers' Association, Committee Hansard, 12 April 2010, p. 4.

[12]      Mr Mark Hand, ANZ Bank, Proof Committee Hansard, 10 May 2010, p. 32.

[13]      Mr Burke, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 64.

[14]      Mr Burke, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 65.

[15]      Mr Burke, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 59.

[16]      Mr Burke, National Farmers Federation, Proof Committee Hansard, 10 May 2010, pp 66-67.

[17]      P Martin et al, Australian farm survey results, 2007-08 to 2009-10, ABARE, April 2010, p. 7.

[18]      Mr Charles McElhone, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 69.

[19]      Mr Alan Hill, Western Australian Farmers' Federation, Proof Committee Hansard, 10 May 2010, p. 69.

[20]      Mr Charles McElhone, National Farmers Federation, Proof Committee Hansard, 10 May 2010, p. 69.

[21]      NSW Farmers' Federation, Submission 43, p.

Chapter 9 - Venture capital

[1]        Reserve Bank of Australia, Submission 2, p. 1.

[2]        House of Representatives Standing Committee on Economics, Australian manufacturing: today and tomorrow, August 2007, p. 89.

[3]        Treasury, Submission 50, p. 17.

[4]        Dr Guy Debelle, Assistant Governor, Reserve Bank of Australia, Committee Hansard, 12 April 2010, p. 21.

[5]        Business Switch, Submission 9, p. 1.

[6]        Dr Peter Burn, Australian Industry Group, Committee Hansard, 12 April 2010, p. 46.

[7]        Dr Peter Burn, Australian Industry Group, Committee Hansard, 12 April 2010, p. 46.

[8]        House of Representatives Standing Committee on Economics, Australian manufacturing: today and tomorrow, August 2007, p. 95.

[9]        APRA, answers to questions on notice.

Government Minority Report

[1] Treasury, Submission No. 50, 23 April 2010, pp 15-16

[2] Treasurer’s Economic Note, 30 May 2010, www.treasurer.gov.au

[3] Treasurer’s Economic Note, 30 May 2010, www.treasurer.gov.au

[4] Treasury, Submission No. 50, 23 April 2010, p. 17 

[5] Reserve Bank of Australia, Submission 2, p. 1.

[6] Reserve Bank of Australia, Submission 2, p. 3.

[7] Public Hearing, Canberra, 10 May 2010, p. E27

[8] Mr Joseph Healy, NAB, Public Hearing, Canberra, 10 May 2010, p. E27

[9]Senator Louise Pratt, Public Hearing, Canberra, 10 May 2010, p. E70

[10] Mr Peter Anderson, Chief Executive, Australian Chamber of Commerce Industry, Public Hearing, Canberra, 10 May 2010, p.E9

[11] Mr Steven Muchenberg, CEO, Australian Bankers Association, Public Hearing, Sydney, 20 April 2010, p.E1

[12] Senator Annette Hurley, Public Hearing, Canberra, 10 May 2010, p. E4

[13] Mr Jim Murphy, Executive Director, Markets Group Treasury, Public Hearing, Canberra, 10 May 2010, p. E4

[14]Reserve Bank of Australia, Submission 2, pp. 5-6

[15] Mr Graham Johnson, APRA, Public Hearing, Sydney , 12 April 2010, p E57

[16] Mr Graham Johnson, APRA, Public Hearing, Sydney , 12 April 2010, p E58

[17] Mr Graham Johnson, APRA, Public Hearing, Sydney , 12 April 2010, p E61

Additional Comments by Senator Xenophon

[1]           National Farmers Federation, Submission 49, Pg 4

[2]           ABARE, Australian farm survey results 2007-08 to 2009-10, April 2010, Pg 1 and Pg 6

[3]           National Farmers Federation, Submission 49, Pg 4

[4]           National Farmers Federation, Submission 49, Pg 4

[5]           Senate Economics Committee, Proof Committee Hansard, Pg 89, 12 April 2010

[6]           Australian Chamber of Commerce and Industry

[7]        Australian Chamber of Commerce and Industry

[8]           Australian Bureau of Statistics

[9]           National Farmers Federation, Submission 49, Pg 4