photo cred: Ellie Burgin
The federal government’s 15-month inquiry into bank closures in regional Australia handed down their findings on Friday 24 May.
Initiated by Senator Gerard Rennick and chaired by Senator Matt Canavan, the inquiry looked at the impacts of branch closures in regional areas, as well as the banks’ reasoning behind the closures.
“While the use of cash is declining across the Australian economy, cash and face‑to-face banking services remain important for many residents, organisations and businesses in regional communities,” the report stated.
Measures to guarantee better banking for people in the bush and bolster regional economies should include a publicly-owned bank according to the report’s recommendations…