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Labor condemns 'disgraceful' Westpac as Hartzer stands down – politics live Labor condemns 'disgraceful' Westpac as Hartzer stands down – politics live
(32 minutes later)
Westpac chief executive’s resignation draws little sympathy on all sides of politics. All the day’s events, liveWestpac chief executive’s resignation draws little sympathy on all sides of politics. All the day’s events, live
Jim Chalmers also gave us an idea of where Labor’s attacks will be going today:
Labor, today through Penny Wong, is continuing to raise the issue of Gladys Liu never having provided a statement to parliament about her associations with groups linked to the Chinese Communist party.
It is almost impossible to separate Chinese businesses from the Chinese Communist party. And there is no suggestion Liu has any issues herself. But Labor says she should have provided a statement to the parliament to put any lingering concerns to bed.
The medevac repeal bill is still ticking away in the background. It is meant to come up for debate on Wednesday, but it is a moving feast at this stage. Jacqui Lambie will decide the bill’s fate.
There is some suggestion floating around that Lambie may seek to amend the bill to give the minister more powers. Critics say if that happens, the whole point of medevac – to give doctors more power to make independent medical decisions – will be moot.
Negotiations continue.
I think Greg Hunt really wants you to know Scott Morrison and Josh Frydenberg were VERY CLEAR about what they wanted to happen in terms of Westpac. Here he is after his Sky interview, where he said much the same thing:I think Greg Hunt really wants you to know Scott Morrison and Josh Frydenberg were VERY CLEAR about what they wanted to happen in terms of Westpac. Here he is after his Sky interview, where he said much the same thing:
In case you missed it yesterday, Paul Karp had a story on the latest with FOIs surrounding Angus Taylor:In case you missed it yesterday, Paul Karp had a story on the latest with FOIs surrounding Angus Taylor:
Penny Wong was on RN this morning talking about China. Sorry for the delay – the Westpac news interrupted my transcription time, but here is some of the interview:Penny Wong was on RN this morning talking about China. Sorry for the delay – the Westpac news interrupted my transcription time, but here is some of the interview:
Wong agreed that this was a “tricky time” for Australia:Wong agreed that this was a “tricky time” for Australia:
This is good news – from Ken Wyatt and Paul Fletcher:This is good news – from Ken Wyatt and Paul Fletcher:
Jim Chalmers stopped by doors to give Labor’s response to the Westpac news:Jim Chalmers stopped by doors to give Labor’s response to the Westpac news:
“You could not have heard stronger, clearer positions set out by the prime minister in response to what were frankly, quite shocking allegations,” Greg Hunt tells Sky in response to the Brian Hartzer news.“You could not have heard stronger, clearer positions set out by the prime minister in response to what were frankly, quite shocking allegations,” Greg Hunt tells Sky in response to the Brian Hartzer news.
Westpac made the announcement in a statement to the ASX.Westpac made the announcement in a statement to the ASX.
You can find that, here.You can find that, here.
Among the titbits – Brian Hartzer leaves with a year’s pay, $2.686m – but he loses out on some bonuses.Among the titbits – Brian Hartzer leaves with a year’s pay, $2.686m – but he loses out on some bonuses.
Peter King becomes acting CEO, with a $2.1m pay packet.Peter King becomes acting CEO, with a $2.1m pay packet.
The Westpac statement announcing Brian Hartzer’s departure includes this line, just in case anyone was unclear about the motivations:The Westpac statement announcing Brian Hartzer’s departure includes this line, just in case anyone was unclear about the motivations:
Wow, a minute really is a long time in news these days.Wow, a minute really is a long time in news these days.
Just breaking – Westpac chief executive Brian Hartzer will step down from the bank on 2 December, AAP reports.Just breaking – Westpac chief executive Brian Hartzer will step down from the bank on 2 December, AAP reports.
We’ll have more on that very soon.We’ll have more on that very soon.
On the Westpac front, the Australian had quite the story this morning, with insights from a closed-door meeting with the Westpac boss, Brian Hartzer.On the Westpac front, the Australian had quite the story this morning, with insights from a closed-door meeting with the Westpac boss, Brian Hartzer.
From the report:From the report:
You can find the whole report, here.You can find the whole report, here.
The board, and Hartzer, are trying to find a way to hold on to their jobs in the wake of the financial intelligence agency, Austrac, announcing it had launched proceedings against Australia’s oldest bank for 23m failures to uphold its anti-money laundering and counter-terrorism responsibilities.The board, and Hartzer, are trying to find a way to hold on to their jobs in the wake of the financial intelligence agency, Austrac, announcing it had launched proceedings against Australia’s oldest bank for 23m failures to uphold its anti-money laundering and counter-terrorism responsibilities.
Among the alleged failures were transactions being used to facilitate child exploitation.Among the alleged failures were transactions being used to facilitate child exploitation.
Josh Frydenberg announced, since confirmed by the banking regulator itself, that Apra was looking at ways it could disqualify the board. All eyes will be on what shareholders do when the bank holds its annual general meeting on 12 December.Josh Frydenberg announced, since confirmed by the banking regulator itself, that Apra was looking at ways it could disqualify the board. All eyes will be on what shareholders do when the bank holds its annual general meeting on 12 December.
Meanwhile, the bank has announced it has cancelled its Christmas party and that some bonuses (not all) will be scrapped or partly scrapped.Meanwhile, the bank has announced it has cancelled its Christmas party and that some bonuses (not all) will be scrapped or partly scrapped.
“Yeah, nah, that’s not it” has never seemed more relevant.“Yeah, nah, that’s not it” has never seemed more relevant.
We enter the seventh last sitting day for the year at a slightly calmer pace than yesterday.We enter the seventh last sitting day for the year at a slightly calmer pace than yesterday.
The big story from yesterday – allegations Beijing attempted to infiltrate our parliament – is still ticking over.The big story from yesterday – allegations Beijing attempted to infiltrate our parliament – is still ticking over.
China’s foreign ministry spokesman, Geng Shuang, spoke of the issue during his daily news briefing yesterday, telling journalists that some of Australia’s media and politicians had “become seized with imaginary fears” about China’s influence.China’s foreign ministry spokesman, Geng Shuang, spoke of the issue during his daily news briefing yesterday, telling journalists that some of Australia’s media and politicians had “become seized with imaginary fears” about China’s influence.
“They constantly fabricate cases of so-called Chinese spies infiltrating Australia ... However bizarre the story, lies are still lies in the end, whatever new guise they wear.”“They constantly fabricate cases of so-called Chinese spies infiltrating Australia ... However bizarre the story, lies are still lies in the end, whatever new guise they wear.”
In the meantime, we are watching our politicians try to balance Australia’s trade relationship with China – which accounts for about a third of our export revenue – and cracking down on alleged attempts to influence our political system.In the meantime, we are watching our politicians try to balance Australia’s trade relationship with China – which accounts for about a third of our export revenue – and cracking down on alleged attempts to influence our political system.
That will continue to unfold today.That will continue to unfold today.
But domestically, we have other worries. Among them is a growing concern about the climate. The 2019 Scanlon Foundation’s Mapping Social Cohesion report found we have bumped up climate change and its effects on our list of nightly worries.But domestically, we have other worries. Among them is a growing concern about the climate. The 2019 Scanlon Foundation’s Mapping Social Cohesion report found we have bumped up climate change and its effects on our list of nightly worries.
As David Marr reports:As David Marr reports:
We’ve already seen that play out in recent weeks, with the debate over whether or not a bushfire emergency was the right time to talk about cause and effect. Overwhelmingly, our leaders said it wasn’t (and yes, despite the term “leader”, I include Michael McCormack in this) but it turns out, they probably got that wrong.We’ve already seen that play out in recent weeks, with the debate over whether or not a bushfire emergency was the right time to talk about cause and effect. Overwhelmingly, our leaders said it wasn’t (and yes, despite the term “leader”, I include Michael McCormack in this) but it turns out, they probably got that wrong.
We’ve seen Scott Morrison go quiet and then come back talking about how his government acknowledges climate change, and has policies in place to deal with it. But it’s getting harder to spin such a flimsy message, and summer hasn’t properly begun as yet.We’ve seen Scott Morrison go quiet and then come back talking about how his government acknowledges climate change, and has policies in place to deal with it. But it’s getting harder to spin such a flimsy message, and summer hasn’t properly begun as yet.
We’ll have that as well, plus party room meetings, plus Westpac’s ongoing fallout and whatever news happens on medevac and ensuring integrity.We’ll have that as well, plus party room meetings, plus Westpac’s ongoing fallout and whatever news happens on medevac and ensuring integrity.
Mike Bowers is here, as is Katharine Murphy, Sarah Martin and Paul Karp. I’ve had two coffees and am headed for a third.Mike Bowers is here, as is Katharine Murphy, Sarah Martin and Paul Karp. I’ve had two coffees and am headed for a third.
So let’s get into it.So let’s get into it.