30/10/2025

Shadow Assistant Treasurer Pat Conaghan MP says Labor’s rushed rollout of its new Cash Acceptance Regulations risks confusion for businesses and consumers, calling it another reform announced before the details or systems are ready.

“We support cash. Cash means freedom, privacy and choice,” Mr Conaghan said.

“As we saw with the Optus Triple Zero outage, systems can and do go down. In regional Australia, we know that better than anyone – the internet drops out, power cuts happen, and disasters strike all too often. Cash is the backup that never fails.”

The Competition and Consumer (Industry Codes – Cash Acceptance) Regulations 2025 would require large supermarkets and service stations to accept cash for payments under $500 from 1 January 2026. Businesses must provide a “reasonable opportunity” to pay by cash and have at least one working cash payment point.

“But the way Labor is going about this is another shambles,” Mr Conaghan said.

“They’ve given businesses just eight weeks to prepare, no time for meaningful consultation, and no national education campaign to explain how it’s supposed to work. Labor had years to plan this, but they’re giving businesses only weeks to comply – the same pattern we saw with Payday Super.”

The ACCC will be able to grant exemptions from complying with the new regulations in ‘exceptional circumstances’.

“I’m concerned those exemptions could become the rule – especially in towns with no bank or affordable cash transportation services,” Mr Conaghan said.

“Without banking access, supermarkets and petrol stations could be excused altogether – because they themselves don’t have access to cash or the ability to safely deposit takings. That’s why we need a comprehensive response to the issue.”

Mr Conaghan said the Government had cherry-picked one recommendation from the regional banking inquiry while ignoring the rest.

“It’s now over 430 days since the inquiry handed down its report, and 75 days since every member of the National Party wrote to the Treasurer seeking they respond to the inquiry. The Government hasn’t replied to either,” he said.

“You can’t tell businesses they must accept cash if customers can’t access it. With ATMs disappearing, branches closing and cash-in-transit costs rising, this policy is all headline, no horsepower.”

“If you’re serious about protecting cash, you must ensure towns have the infrastructure that makes it possible. Australians deserve better than rushed, half-baked policy.”