ID :
50547
Sat, 03/14/2009 - 16:17
Auther :
Shortlink :
http://m.oananews.org//node/50547
The shortlink copeid
Bank union seeks meeting with PM on jobs
Unions will seek an urgent meeting with Prime Minster Kevin Rudd to stop banking
jobs going offshore.
The Rudd government has rejected calls to have the deposit guarantee withdrawn from
banks that move jobs out of Australia after the ANZ Bank announced it was shifting
500 jobs to India.
The Australian Council of Trade Unions (ACTU) wants taxpayer funding of banks to be
conditional on jobs staying in the country, and said banks could survive the global
financial crisis without sacking workers.
"Those jobs don't have to go. They can help us over the next 12 months as we get
through this crisis," Ms Burrows told Sky News.
The Finance Sector Union (FSU) says it is concerned the banks will use the financial
turmoil as an excuse to shift more work overseas.
"Australia's big banks remain the most profitable in the world, raking in huge
profits while others around the globe fail," the FSU's national secretary Leon
Carter said.
"So, why is it that they are speeding up their plans to send more Australian banking
jobs offshore?"
A spokesman for Mr Rudd rejected FSU demands to have government funding tied to jobs
staying in Australia.
"The bank guarantee is to stabilise the financial system for the benefit of all
Australians," he said.
"It doesn't mean the government can make managerial decisions for individual banks."
ANZ, Australia's fourth biggest bank, initially confirmed on Friday it would sack
500 processing office staff and move the work to India by the end of 2009, but later
changed its line to say no jobs would be lost in Australia.
It said it was creating 500 jobs in Bangalore, India, rather than Australia.
The FSU's Mr Carter said the union wanted to sit down with the prime minister to
discuss ways taxpayer guarantees given to the banks could be used to prevent more
banking jobs from being sent offshore.
"When Australian taxpayers have given the banks so much it is not unreasonable to
ask for something back," Mr Carter said.
But the Australian Bankers' Association hit back, saying banks have contributed
their own funds to make the deposit guarantee viable.
"The assertion from the union is false," the ABA's chief executive David Bell said.
"In fact, the opposite is true. Banks have paid the federal government, therefore
the taxpayer, $500 million to access the wholesale funding guarantee."
Mr Rudd's spokesman said the prime minister would respond to union concerns when a
request for a meeting was made.
The federal government's program to guarantee for three years deposits in
Australian-owned banks, building societies and credit unions began in October.
The deposits scheme is worth up to $700 billion.
The government also guarantees overseas borrowing by the banks.
The finance union says Australia's big banks have shifted more than 3,800 jobs to
India during the past three years, with a large chunk of work moved there in the
past five months alone.
jobs going offshore.
The Rudd government has rejected calls to have the deposit guarantee withdrawn from
banks that move jobs out of Australia after the ANZ Bank announced it was shifting
500 jobs to India.
The Australian Council of Trade Unions (ACTU) wants taxpayer funding of banks to be
conditional on jobs staying in the country, and said banks could survive the global
financial crisis without sacking workers.
"Those jobs don't have to go. They can help us over the next 12 months as we get
through this crisis," Ms Burrows told Sky News.
The Finance Sector Union (FSU) says it is concerned the banks will use the financial
turmoil as an excuse to shift more work overseas.
"Australia's big banks remain the most profitable in the world, raking in huge
profits while others around the globe fail," the FSU's national secretary Leon
Carter said.
"So, why is it that they are speeding up their plans to send more Australian banking
jobs offshore?"
A spokesman for Mr Rudd rejected FSU demands to have government funding tied to jobs
staying in Australia.
"The bank guarantee is to stabilise the financial system for the benefit of all
Australians," he said.
"It doesn't mean the government can make managerial decisions for individual banks."
ANZ, Australia's fourth biggest bank, initially confirmed on Friday it would sack
500 processing office staff and move the work to India by the end of 2009, but later
changed its line to say no jobs would be lost in Australia.
It said it was creating 500 jobs in Bangalore, India, rather than Australia.
The FSU's Mr Carter said the union wanted to sit down with the prime minister to
discuss ways taxpayer guarantees given to the banks could be used to prevent more
banking jobs from being sent offshore.
"When Australian taxpayers have given the banks so much it is not unreasonable to
ask for something back," Mr Carter said.
But the Australian Bankers' Association hit back, saying banks have contributed
their own funds to make the deposit guarantee viable.
"The assertion from the union is false," the ABA's chief executive David Bell said.
"In fact, the opposite is true. Banks have paid the federal government, therefore
the taxpayer, $500 million to access the wholesale funding guarantee."
Mr Rudd's spokesman said the prime minister would respond to union concerns when a
request for a meeting was made.
The federal government's program to guarantee for three years deposits in
Australian-owned banks, building societies and credit unions began in October.
The deposits scheme is worth up to $700 billion.
The government also guarantees overseas borrowing by the banks.
The finance union says Australia's big banks have shifted more than 3,800 jobs to
India during the past three years, with a large chunk of work moved there in the
past five months alone.
