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Why we can ‘cheers’ to Labour’s fintech policies

Labour fintech policy
Image credit: Martin Suker /

In Australian politics, policies are often judged under the metric of the ‘pub test’: would an ordinary patron understand and accept to be fair any given policy, decision or proposal?

Weighing up the merits of Labour’s plans for financial services down at the pub may not be the best conversational gambit for Friday drinks with your mates. However, many of us in the industry will be wondering whether to raise a glass to the Labour Party’s vision for fintech and financial services – a sector that barely existed when they last held power.

The pub test might be limited to a few overpriced boozers in Shoreditch and the City, but the challenge remains relevant: Labour’s plans must be clear and convincing....