ATA urges the Senate to vote ‘No’ on the Cash Ban Bill

THE Australian Taxpayers Alliance (ATA) has urged Australian Senators to vote 'No' to the Currency (Restrictions on the Use of Cash) Bill 2019, calling the banning of cash an attack on the freedoms of Australians.

A statment released by ATA policy director Emilie Dye said:

"Some incredibly insightful individuals testified at the Cash Ban hearing on Thursday. The message was clear: any restriction on cash is an attack on economic freedom. Australians should be allowed to make legal purchases with the legal tender of their choice instead of being forced onto the banking system.

"The Australian Taxpayers' Alliance, the nation's largest grassroots advocacy group, today urged the Australian Senate to listen to the voice of the people and vote no on the Currency (Restrictions on the Use of Cash) Bill 2019.

"A $10,000 restriction on the use of cash would harm small businesses, give more power to corporate banks, and would fail to restrict any criminal activities.

"Many Australians still use cash and wish to continue using this legal tender for their privacy and security. Banks and electronic payment methods are not always reliable. Look at the bushfire crisis and the thousands of Australians forced to use cash during a natural disaster. 

"Let us not forget the Royal Commission into the banking sector. Without healthy competition and restriction banks, particularly corporate banks will abuse their powers. Lower interest rates and higher bank fees hurt hardworking Australian.

"Law-abiding citizens, not lawless criminals, obey laws. Experts in Europe have proven restrictions on cash fail to impact money laundering, tax evasion, and terrorism. This bill would cost Australians dearly without addressing the problems it claims to fix.

"Ordinary Australians attempting to contribute to the economy through legal means could find themselves spending two years in jail should this bill become law."

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