This policy will be enacted to ensure compliance from private banking institutions in all aspects of financial transactions.
Enforcement of the passing on of interest rate variations as made periodically by the Reserve Bank of Australia (RBA) will be one primary focus of this policy to ensure ‘fair play’ for all consumers.
The findings and recommendations of the Financial Sector Royal Commission will be reviewed, and decisions made as to whether any of Australia’s financial services entities have engaged in misconduct, and if criminal or other legal proceedings should be referred to the Commonwealth
The creation of an Australian Development Bank will be investigated with a view towards providing funding for environmental, medical, and technological research and development, as well as creating a source of accessible and affordable housing funding for all citizens.
Effective and beneficial use of Superannuation funds for primary housing acquisition and the development of financial reserves for retirement will likewise be investigated and assessed.
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