Standing Committee on Economics, Finance and Public
Administration
Media release: 16 July 1999
COMMITTEE CONSIDERS INVESTIGATION OF LAWS - ABA DEAL
The influential House of Representatives Standing Committee on Economics,
Finance and Public Administration is planning to look at the alleged secret
deal between the Australian Bankers Association (ABA) and John Laws, in
which John Laws agreed to stop criticising the banks, and begin to promote
them on his radio show.
'I believe it will be in the community's interest to get to the bottom
of this deal,' said the Committee Chairman, Mr David Hawker MP.
Revelations about the alleged deal between Mr Laws and the ABA come
in the wake of research conducted by the Reserve Bank on behalf of the
Committee which reveals that fees for the use of ATMs have doubled; fees
for EFTPOS machines have increased 60%; and fees for using a teller in
a bank branch have increased 400%.
'It is a particular concern to the Committee that the banking industry
may be attempting to buy publicity from an advocate of the less well off
in the community, rather than addressing the real issue of equity,' Mr
Hawker concluded.
The full Committee will consider an appropriate time to hear from Mr
Laws and the ABA at its next full meeting in early August.
Ends
16 July 1999
Further information:
David Hawker MP (Chairman) 02 6277 4100
Beverley Forbes (Secretary) 02 6277 4587
Email: EFPA.Reps@aph.gov.au
Committee Membership 39th Parliament
Chairman: Mr David Hawker MP
Deputy Chairman: Mr Gregory Wilton MP
Members:
Mr Anthony Albanese MP
Ms Anna Burke MP
Ms Teresa Gambaro MP
Mrs Kay Hull MP
Mr Mark Latham MP
Mr Christopher Pyne MP
Hon Alex Somlyay MP
Dr Andrew Southcott MP
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