Mr SWAN (Lilley—Deputy Prime Minister and Treasurer) (14:19): The decision by the NAB not to pass on the Reserve Bank rate cut in full was a greedy decision. It is completely and utterly unjustified by any of the fundamentals when it comes to their borrowing requirements. I conveyed my view directly to the chief executive, Mr Cameron Clyne. I passed it on a very directly. I did not only make my views public, I put them privately as well—as I have done when, on other occasions, banks have done that. And I will continue to do that when I believe these decisions are unjustified. The reason the government has put in place a comprehensive package of banking reforms is to enable customers that are unhappy with their bank to go down the road— Mrs Bronwyn Bishop: Mr Speaker— The SPEAKER: The member for Mackellar will resume her seat. The Acting Prime Minister will respond to the question. Mr SWAN: I know they are not interested in competition in the banking system but I will go on and talk about the government's proposals, which are currently being implemented, to make sure our banking system is much more competitive. One of the reforms that we put in place which has been opposed by those opposite is the abolition of mortgage exit fees. The shadow Treasurer opposed our proposition to abolish mortgage exit fees, which has led to a reduction of mortgage exit fees and the abolition of mortgage exit fees by the National Australia Bank. So, in these circumstances, if you have a mortgage with the NAB and you are unhappy with their decision you can walk down the road as a result of reforms this government has put in place. Mr Hockey: Everyone else is more expensive! Mr SWAN: Come in spinner! The interjection was that they have a lower rate. They do not have a lower rate than many other financial institutions: there are plenty of credit unions out there with a lower rate than the NAB. If their customers are unhappy they can walk down the road and get a better rate.