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The ‘Big Four’ Banks Just Got Bigger: Your Move, Mr. Treasurer

Most Australians would correctly observe that their banking sector is an oligopoly. 
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The ‘Big Four’ Banks Just Got Bigger: Your Move, Mr. Treasurer
A Suncorp Bank sign adorns a building in central Brisbane, Australia, on Dec. 5, 2011. William West/AFP via Getty Images
Eric Abetz
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Commentary

Competition serves consumers well. The theory which is confirmed in the real world suggests that the more businesses or enterprises are out there in the marketplace seeking the consumer dollar the cheaper the price for that commodity.

Eric Abetz
Eric Abetz
Author
The Hon. Eric Abetz was an Australian Liberal Party senator from 1994-2022. He has held several cabinet positions and served on parliamentary committees examining Electoral Matters, Native Title, Legal and Constitutional Affairs, as well as Foreign Affairs, Defence and Trade.
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