Bank Regulation

May 7, 2012

Q. Thinking about banks in Australia, would you support or oppose the Government taking the following actions on banking?

 

Total support

Total oppose

Strongly support

Support

Oppose

Strongly oppose

Don’t know

Establishing a Government-owned bank

55%

23%

21%

34%

15%

8%

22%

Only permitting banks to change interest rates in line with Reserve Bank rates.

74%

16%

37%

37%

11%

5%

10%

Capping bank CEO’s salaries.

81%

12%

55%

26%

9%

3%

7%

Ensuring bank fees are not higher than the actual cost of the service

90%

5%

64%

26%

4%

1%

5%

Imposing a super profits tax on banks (like the mining tax)

59%

21%

34%

25%

16%

5%

20%

 

A majority of respondents supported all listed actions on banking. In particular, 90% supported regulating bank fees, 81% supported capping CEO salaries and 74% supported making banks pass on Reserve Bank interest rate changes.

There was majority support for all actions from both Labor and Liberal/National voters – although support tended to be stronger from Labor voters.

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