Thursday, 29 May 2025

Financial abuse

Georgie PURCELL (Northern Victoria) (21:59): (1690) My adjournment matter is for the Minister for Prevention of Family Violence, and the action that I seek is for her to advocate to her colleagues in the federal government to fully agree to and implement all 61 recommendations of the federal parliamentary inquiry into financial abuse. I would first like to congratulate members of the Parliamentary Joint Committee on Corporations and Financial Services and all stakeholders who contributed to the extensive and landmark report into this insidious form of abuse.

Nationwide the financial toll on victims of financial abuse was estimated to be $5.7 billion. We know that this disproportionately impacts women. Twenty-seven per cent of women in Australia, approximately 2.7 million women, have experienced some form of abuse by a cohabiting partner. Sixteen per cent of these women, or 1.6 million, have suffered from partner economic abuse, compared to 7.8 per cent of men. First Nations people, the elderly, culturally and linguistically diverse Australians and those living in remote and regional communities are all also more likely to be victims of financial abuse.

The inquiry found that child support being weaponised against victims is one of the most frequent forms of financial abuse. The withholding of child support not only hurts custodial single parents – again, who are largely women – but also robs children of the support that they need in order to thrive. This has been an issue that I have heard about from some of my own friends and so many of my own constituents, with little to no pathway to resolve it, further adding to the stress and extra responsibility that often comes with solo parenting.

We have almost reached six months after the report was first handed down, and although I recognise the complexity of the wide range of recommendations, it is vital that the Victorian government advocates to the Commonwealth to ensure that this is not just another report that collects dust. Ending financial abuse is a critical component of addressing the gender-based violence crisis in this country, and I hope that the government can take this matter seriously.