Cash Distribution Framework Bill 2026, Cash Distribution Framework (Consequential Amendments and Transitional Provisions) Bill 2026; Second Reading

Canavan indicated that the Coalition would not oppose the bill, describing it as a reasonable but belated response to market consolidation in cash distribution. Canavan noted that the merger of Armaguard and Prosegur created a near-monopoly, necessitating regulatory oversight to prevent inequitable pricing and service terms for businesses. Canavan moved an amendment to affirm cash as critical national infrastructure and to express concern over the government's delay in acting before the expiry of ACCC undertakings. Canavan also raised issues regarding the closure of bank branches and argued that the existing cash acceptance mandate should be expanded to include pharmacies and operate for longer hours.

Dowling argued that cash serves as essential emergency infrastructure, particularly when digital payment systems fail during network outages or storms. Dowling highlighted the decline in bank branches in Tasmania and the reliance of millions of Australians, especially older and lower-income individuals, on cash for daily transactions. Dowling supported the bill's provisions for ACCC oversight to ensure fair pricing and service levels in a market dominated by a single provider. Dowling also commended amendments that preserve worker protections for cash transport staff while maintaining the Reserve Bank's crisis intervention powers.

Roberts supported the bill but disputed the premise that cash usage is declining, citing increased cash in circulation and transaction volumes. Roberts argued that cash usage is driven by privacy concerns, budgeting needs, and the cost-of-living crisis, rather than a lack of digital access. Roberts criticised the government's previous cash acceptance regulations as insufficient and expressed concern that the new framework might cement the monopoly of Armaguard-Prosegur. Roberts warned against the crisis funding provisions, fearing they could lead to taxpayer-funded bailouts for private entities, and called for mandatory cash handling services in post offices to support regional areas.