We’ve rounded up all the latest news from Australia and around the world – so you don’t have to go searching.
1. Government to ban credit card surcharges and make super fairer.
The Treasurer has signaled that unfair credit card surcharges will be banned to put a stop to the gouging of credit card users.
In the government’s response to the Murray inquiry into Australia’s financial system all but one of the recommendations will be implemented.
Shops, cabs, and other merchants will be banned from imposing unfair surcharges on credit cards.
“It has to be about the fair dinkum cost of what someone is actually absorbing and passing on,” Treasurer Scott Morrison said yesterday.
The review represents the biggest overhaul of the financial system since 1997 touching on everything from credit card fees, superannuation, cyber security, and crowd funding regulation.
The government will also ask the Productivity Commission to provide a framework to help people to make good superannuation choices to make the sector more competitive.
“It’s not the fund’s money, it’s not those who run the fund’s money, it’s the workers’ money.” Mr Morrison said yesterday.
Prime Minister Malcolm Turnbull said the review’s recommendations would make Australia’s banking system stronger while also protecting consumers from being charged unfair card surcharges.
“These are some of the important outcomes from the Government’s response to the Murray inquiry,” he said.
2. Former-PM a paedophile claims Senator.
Liberal Senator Bill Heffernan has told a Senate Estimates hearing he had given the Royal Commission into Institutional Responses to Child Sex Abuse a police document that names 28 alleged paedophiles – one of whom is a former Prime Minister.