MEDIA RELEASE – 11am FRIDAY 18th MAY
Occupy Perth – ANZ Bank Action
FOR IMMEDIATE RELEASE
Occupy Perth are holding a snap action targeting an ANZ branch Perth Metro , at 4pm, Friday 18th of May.
On May 2, ANZ reported a record half-year-profit, with first half earnings up 10 per cent year-on-year.
Occupy Perth spokesperson Karun Cowper stated: “The action is planned in protest against excessive profit-taking by ANZ amid a climate of employee layoffs, unilateral interest rate hikes and ANZ’s ongoing unwillingness to pass on (in full) the Reserve Bank of Australia’s cuts to the cash rate.
“Despite this huge profit, ANZ has unilaterally increased the gap between the RBA cash rate and its mortgage lending rates by 30 basis points, or about $23 per week for those with a mortgage of $400,000.
“In an environment where the majority of West Australian home-owners are already experiencing mortgage-stress, this is unacceptable to the people of Western Australia.”
ANZ mortgagee and Occupy Perth activist Luke Skinner said “In January ANZ announced their intention to axe 1000 Australian jobs, in the very same month their profits grew 19% compared to January 2011.
“In targeting ANZ through this action, Occupy Perth makes clear its goal to challenge the system of endless profit-growth for big banks and rich investors at the expense of the Australian people.
“In defence of manageable living standards for the 99% Occupy Perth calls on the Australian Government to crack down on excessive profit taking by the big four and put an end to the system of banking which inherently redistributes wealth in favour of the excessively wealthy (the 1%).”
Luke Skinner – 0422738541
Karun Cowper – 0423972949