Cap the obscene pay packages of banking executives (PER676)
The proposal would place a limit on the remuneration payable by providers of financial services.
- A cap on base remuneration would be set at ten times annualised average weekly earnings (currently $869,795).
- A cap on variable remuneration would be set at five times annualised average weekly earnings (currently $434,898).
The caps would apply to ‘accountable persons’ of authorised deposit-taking institutions as described in the Treasury Laws Amendment (Banking Executive Accountability and Related Measures) Act 2018.
Read moreRecoup banking insurance costs through a bank levy and invest in financial counselling services (PER675)
The proposal would increase the major bank levy rate from its present level of 0.015 per cent per quarter to 0.05 per cent per quarter.
In addition to the increase in the levy rate, the Government would provide $10 million per year, indexed to the consumer price index, to fund financial counselling and legal assistance.
The proposal would have effect from 1 July 2019.
Read moreReplace a weak and compromised Australian Securities and Investments Commission (ASIC) with the Australian Competition and Consumer Commission (ACCC) to fight for the rights of banking customers (PER674)
This proposal has four components that would provide funding for banking regulation changes.
Component 1: Install the ACCC as the conduct (competition and consumer) regulator over retail banks, large superannuation funds, insurance companies and retail grade intermediaries, and maintain ASIC as the conduct regulator for the rest of the financial sector.
Read moreReplace a weak and compromised Australian Securities and Investments Commission (ASIC) with the Australian Competition and Consumer Commission (ACCC) to fight for the rights of banking customers (PER674)
This proposal has four components that would provide funding for banking regulation changes.
Component 1: Install the ACCC as the conduct (competition and consumer) regulator over retail banks, large superannuation funds, insurance companies and retail grade intermediaries, and maintain ASIC as the conduct regulator for the rest of the financial sector.
Read moreCut the government contracts of the big four accounting firms and restore jobs to the public service (PER671)
The proposal has two components.
Component 1 – Lift wage growth and restore staffing levels
Read moreCut the government contracts of the big four accounting firms and restore jobs to the public service (PER671)
The proposal has two components.
Component 1 – Lift wage growth and restore staffing levels
Read moreFinally build the East Coast High Speed Rail with government investment (PER670)
This proposal would provide equity funding for an east coast high speed rail project, as laid out in the High Speed Rail Study Phase 2 report (the report) released on 11 April 2013. From 2019‐20 to 2029‐30, the proposal would provide funding for:
Read moreFinally build the East Coast High Speed Rail with government investment (PER670)
This proposal would provide equity funding for an east coast high speed rail project, as laid out in the High Speed Rail Study Phase 2 report (the report) released on 11 April 2013. From 2019‐20 to 2029‐30, the proposal would provide funding for:
Read moreFinally build the East Coast High Speed Rail with government investment (PER670)
This proposal would provide equity funding for an east coast high speed rail project, as laid out in the High Speed Rail Study Phase 2 report (the report) released on 11 April 2013. From 2019‐20 to 2029‐30, the proposal would provide funding for:
Read moreInvest in public transport, while making cycling and walking safe and accessible (PER669)
This proposal has two components.
Read more