Did the Government ignore advice from the Reserve Bank when it decided to guarantee all bank deposits?
TANNER: Throughout the international financial crisis the Government has been in very regular contact, almost constant contact with the key regulators including the Reserve Bank and we’ve paid a lot of attention to the advice that we’ve received from the regulators. I’m not aware of the specific advice that is supposed to have been given to us by the Reserve Bank Governor according newspaper reports this morning. I’m simply not aware of the basis of that. But I can assure you that we will continue to pay very close attention and take a lot of notice of the advice that we receive from the Reserve Bank, from APRA, from Treasury. JOURNALIST: The Opposition is accusing Mr Rudd of misleading Parliament over this, claiming that he says he would be acting on advice of regulators throughout the crisis as you’ve just repeated now. Is the Opposition going overboard with this – do they know something that you don’t? TANNER: Oppositions routinely accuse governments of misleading Parliament and a l
