Tuesday, 17 February 2026

 Anasina GRAY-BARBERIO (Northern Metropolitan) (17:44): (2306) My adjournment matter this evening is for the Treasurer, and the action I seek is the introduction of a levy on the big banks to help everyday Victorians. Last week the Reserve Bank of Australia increased its official cash rate again. This means increased mortgage repayments, rent increases and, for many, difficulty managing debt. In Northern Metropolitan around 40 per cent of residents rent, 13 per cent higher than the Victorian average, and just 52.5 per cent own their home, below the state average of 65 per cent. My constituents in Northern Metro are paying more than $2000 monthly on their mortgage, and renters are paying over $400 weekly. Rents have increased twice as much as wages, food prices are out of control, energy bills keep climbing and more than 75,000 Victorians are waiting for social housing. Meanwhile the big banks continue to post massive profits. They pass on rate rises quickly and quietly to borrowers. This is not inevitable; it is Labor’s political choice. A levy on the big banks would ensure that those who are profiting most from economic instability contribute to easing the burden on everyone else. That revenue could fund real cost-of-living relief, investment in public housing, caps on rent increases, fixing the housing market and support for households under pressure.