This is a speech by Peter Boyle, the Socialist Alliance candidate for the seat of Sydney, at a picket outside an ANZ bank in Sydney on June 21.
We called this demonstration following news of more job cuts by the ANZ bank despite its recent rise in profits.
In April this year, ANZ announced a record half-year profit of $3.18 billion. This is 10% up on last year.
ANZ is reaping massive profits at the expense of its workers.
And to add insult to injury, ANZ boss Mike Smith has become the highest paid corporate CEO in Australia — his pay packet was $10.1 million last year.