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Tuesday, 21 October 2008
Page: 9699


Ms JULIE BISHOP (2:50 PM) —My question is to the Treasurer. Is the Treasurer aware of any advice from the Reserve Bank governor to the secretary of his department, Dr Ken Henry, that the government should limit the deposit guarantee?


Mr SWAN (Treasurer) —I thank the member for her question. As I said earlier at the press conference, and I will inform the House, the secretary of my department and the Governor of the Reserve Bank have been in discussions about the comprehensive guarantee and the level above which a fee may be charged—an insurance premium, if you like. They have been in those discussions consistent with the answer that I gave in the House last Wednesday. Of course, the shadow Treasurer did not listen to the answer last Wednesday, so she was unaware that the government then was looking at finetuning the scheme, as we should, and that is what the Treasury and the Reserve Bank are discussing as we speak and it is what the Treasury and the Reserve Bank are discussing with industry. When those consultations have finished, we will make our announcement.