Australia’s most experienced advocate for victims of predatory bank lending has slammed as “insane” Prime Minister Scott Morrison’s policy to lower bank lending standards to boost economic activity.
A Parliamentary inquiry into diversifying trade and investment is an excellent opportunity for a public discussion of the immense benefits of a national development bank.
The recent fracturing of the neoliberal consensus that drove both major parties to mass-privatise national assets and hand control of the economy over to private banks is accelerating into a full-blown breakdown.