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June 25 2018: The Bill has been introduced into Federal Parliament!

Federal MP for Kennedy Bob Katter introduced the Banking System Reform (Separation of Banks) Bill 2018 into Federal Parliament. A historic event which should be celebrated by all!

The text of the Bill (as tabled, on the Parliament website)

Bob Katter's speech (as written in Hansard)

CEC Research Director Robert Barwick stands with Mr Katter at the press conference

Photos of the press conference by AAP

CEC Media Release 26 June 2018 ‘Does anyone seriously think that we are not sitting on the brink of disaster?’—Bob Katter MP introduces Glass-Steagall solution in Australian Parliament

Bob Katter interviewed on 2GB

Press coverage

'Brink of disaster', MP warns about loans
Newcastle Herald 25 June 2018 Karen Sweeney

The current banking environment is "ugly and evil" and consumers need to be protected from risky behaviour, independent MP Bob Katter has told parliament.
The veteran Queensland MP wants to separate retail commercial banking from riskier investment activities, a move he believes will protect Australians in times of depression and stop banks luring customers into buying other services.
Mr Katter suggested Australia was "sitting on the brink of disaster" as banks continue to offer loans to people who may not be able to make repayments, and called on institutions to be held responsible.
In Sydney, Newcastle and Wollongong the average house price is above $800,000 and yet the average Australian income after tax is around $50,000, he told parliament, questioning how those people could make repayments on a house.
"Does anyone seriously think that we are not sitting on the brink of disaster?" he said.
"Well the banks make money when you go broke and they sell the house out from under you. They don't lose money, they make money out of what has occurred. They should be held responsible."
Any legislation would tell the banks they are no longer in the market buying and selling, but their job was to loan to people who buy, sell, develop and invest.
Australian Associated Press (AAP)

The AAP wire also appeared on SBS News, Daily Mail, Yahoo7News, The Wimmera Mail-Times, Central Western Daily, The (Riverina) Leader, Goulburn Post, The (Wagga Wagga) Daily Advertiser, Riverine Herald, Southern Riverina News, The McIvor Times, Campaspe News, & the Mudgee Guardian

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