Mr MURPHY (1:53 PM) —On 5 June 2000, I spoke during the grievance debate in this House about banking industry deregulation and the recent closure of Westpac's branches in my electorate of Lowe at Croydon Park, Homebush and Concord. Since that time Westpac has closed another branch at Haberfield, throwing sand in the eyes of their customers and demonstrating again that Westpac is only interested in their shareholders.

Today I am pleased to report to the parliament that, with the support of their local federal member, the residents of Lowe are fighting back. Last Wednesday evening the Haberfield community centre was packed with angry and frustrated residents who intend to take on the big banks and campaign for the first community bank in Sydney. I wish to pay tribute to the hard work of Ashfield councillor Emma Brooks-Maher, who is leading the campaign with tremendous support from many, including Marlene Doran, President of the Homebush Main Street Committee. I know first-hand that the will of my constituency is so strong that they will achieve this goal.

The banks should be flogged, and there will be no tears shed for Westpac or the other three big banks when more community banks are established in Sydney and throughout Australia. I will keep the parliament informed of the progress of my constituents' campaign for more community banks.