MPs move to enshrine cash in legislation
June 7, 2024
FEDERAL MPs Bob Katter (Kennedy) and Andrew Gee (Calare) have introduced the "Keeping Cash Transactions in Australia Bill 2024" to parliament this week.
The proposed legislation would mandate that businesses operating in face-to-face settings accept cash payments for transactions up to $10,000.
Bob Katter MP stressed the importance of protecting financial independence: "The removal of cash as a payment option is an attack on personal freedom. If you rely solely on digital payments, you give banks and corporations total control over your money. This bill is about keeping power in the hands of the people.
"Removing cash erodes individual freedoms and places control in the hands of financial institutions. We must protect the right to use legal tender."
Mr Gee emphasised the bill's importance in safeguarding consumer choice, stating, "Australians should have the freedom to decide how they pay for goods and services. This bill ensures that cash remains a viable option for all.
"A cashless economy risks leaving millions of Australians behind. This bill ensures that everyone, regardless of where they live or their financial situation, has access to secure, reliable, and independent payment methods."
The bill addresses growing concerns about the decline of cash usage and aims to protect vulnerable populations who rely on cash for daily transactions.
With growing concerns over digital dependence and financial exclusion, this legislation presents a crucial step toward maintaining economic freedom and resilience in Australia.
ENDS

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