The Financial Services Royal Commission has exposed some irresponsible lending by Australia’s biggest banks.
Some of the revelations from the commission have affected certain banks’ share prices but not their profits.
The question is whether the information brought to light by the commission will further push down property prices?
Here are their detailed responses:
Grattan Institute began with contributions to its endowment of $15 million from each of the Federal and Victorian Governments, $4 million from BHP Billiton, and $1 million from NAB. In order to safeguard its independence, Grattan Institute’s board controls this endowment. The funds are invested and contribute to funding Grattan Institute’s activities. Grattan Institute also receives funding from corporates, foundations, and individuals to support its general activities as disclosed on its website.
_Cameron Murray is a senior economist at The Australia Institute and member of the Sustainable Australia political party. _
Authors: Jenni Henderson, Section Editor: Business + Economy