Australia subsidises Matt Comyn
Wednesday 20 September 2023:
Today, Commonwealth Bank boss Matt Comyn insulted millions of Australians who use physical cash by implying they are being subsidised.
However Australians have no choice but to open a bank account if they want to get paid from an employer, Centrelink or the Tax Office. This government mandate effectively subsidises and underpins Matt Comyn’s massive salary and the obscene profits of his dominant company.
“Thirty years ago most Australians received their pay in cash contained in envelopes, that is no longer possible meaning every Australian must have a bank account,” said Jason Bryce, spokesperson for the Cash Welcome campaign.
“Commonwealth Bank and the other big banks enjoy a central place in our economy and are regulated differently to other companies. They have a clear social responsibility to treat Australians with respect and support people to save, budget and spend their money how they choose.”
“Millions of Australians rely on cash, understand cash and budget with cash.
“The cashless agenda of banks and supermarkets is cruelly leaving many Australians out. People in rural and regional communities are particularly impacted.
Mr Bryce has started a petition asking for a ‘banking and cash guarantee’ in Australia that has attracted 125,000 signatures and growing.
CashWelcome.ORG is a campaign supported by donations from the public and industry. We work in co-operation with the ATM Industry Association.
More comments and information:
Jason Bryce, Cash Welcome 0428 777 727 Jason@CashWelcome.ORG
Sandra Smith, ATM Industry Association Sandra.Smith@ATMIA.com 0424 300 660