ANZ joins rivals in cutting fixed mortgage rates – as it happened

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Rowland questioned on gambling ad ban

Michelle Rowland was also asked why it has taken 16 months for the government - as yet - to make no decision on gambling ads. The communications minister said the government has been working diligently in this space" but action should have been taken on this some 10 years ago".

We're working very closely with the states and territories because the vast majority of recommendations in our late colleague Peta Murphy's report go to issues that go across commonwealth and state jurisdictions.

We're also working very closely to ensure that there are no unintended consequences here and it's actually effective.

We have every anticipation that we will be able to respond comprehensively this year and that's what we're working towards as a government.

We will be taking advice on the appropriate form in which that can be done. Legislation is obviously an option because there is an interactive gambling act at the commonwealth level, which enables some of these approaches to be implemented.

There will be penalty for the platforms just as they are now in the Online Safety Act ... These penalties will be drafted and, as I said, we're currently reviewing the Online Safety Act because the penalties as they stand ... the maximum penalties are less than $1 million for some offences.

They are being challenged but, at the same time, the industry does understand the need to comply here and, by and large, does comply with the rules under the Online Safety Act.