In a recent discussion on 2GB Radio's Money News, Brooke Corte engaged with Shayne Elliott, CEO of ANZ, about various pressing economic issues. As JobKeeper is set to end, concerns loom over the anticipated impact on employment. Corte noted that while the economy seems prepared for this transition, it remains significant for those who may face unemployment.
Elliott emphasized ANZ's commitment to assisting customers affected by recent floods in Australia. "Like all of the major banks, we are there for people," he stated, referencing support measures similar to those offered during COVID-19.
The conversation also touched upon the housing market's dynamics. ANZ recently forecasted a 17% rise in property prices this year. Elliott acknowledged the volatility and changes influencing these predictions: "When you throw a quarter of a trillion dollars at the economy, things change."
Addressing potential regulatory interventions in the housing market, Elliott remarked that such measures are designed to moderate growth and might not adversely affect banks. He observed strong growth in home loan applications at ANZ, suggesting possible future slowdowns.
With JobKeeper concluding soon, Elliott highlighted concerns over its impact on sectors like hospitality and tourism. He stressed the importance of supporting businesses as they navigate post-JobKeeper challenges: "We have the ability to really lend a hand here to those businesses who need support."
Finally, Elliott addressed workplace culture issues amid ongoing discussions about treatment of women across corporate Australia. He expressed commitment to fostering an environment where employees feel supported: "We need to keep an open mind and a learning culture."
The dialogue concluded with Corte expressing optimism about forthcoming changes in workplace culture.