'What's the agenda' over negative interest rates and the 'new cash bill': Jones

Sky News host Alan Jones says the issue of negative interest rates are “now worrying people” because if rates “go below zero, you would be paying the bank” to handle your money, which is a concern due to the newly proposed cash bill of 2019.

The Currency Restrictions on the Use of Cash Bill of 2019 passed the House of Representatives due to Labor support and a Committee has recommended to the Senate that the Bill be passed.

"Put simply, the legislation would ban the use of cash transactions over $10,000 ... break the rules and it's two years in jail," Mr Jones said.

However, "if interest rates go below zero, you would be paying the bank for the bank handling your money," he said.

"But this legislation would force you to stick your money in the bank".

"The banks have just been hammered at a royal commission, is the government now giving back a few trillion dollars to the banks".

"Is there an agenda here," Mr Jones said.

Image: Getty

Видео 'What's the agenda' over negative interest rates and the 'new cash bill': Jones канала Sky News Australia