The NSW Labor Opposition has today demanded the O’Farrell Government send a clear message to the big four banks – and declare NSW Government contracts will be reviewed if banks sack NSW workers and offshore jobs while continuing to make record profits.

Today, the Commonwealth Bank announced a $3.6 billion half yearly profit.

Earlier this week, Westpac announced it will sack 500 NSW workers, with 150 to be sent offshore – despite the bank posting a record $6.9 billion profit last year.

“Barry O’Farrell needs to take a stand and declare the NSW Government won’t do business with banks that sack NSW workers and send local jobs offshore,” Opposition Leader John Robertson said today.

“The Premier should pick up the phone to the big banks today and tell them he will review their NSW Government contracts if they sack NSW workers and send local jobs offshore.

“Banks that sack NSW workers and offshore jobs should also have it counted against them when it comes to future NSW Government contracts being awarded.

“The message here is simple – the NSW Government shouldn’t reward banks that sack our workers and send local jobs offshore.

“Westpac should not be allowed to sack 500 NSW workers and send 150 jobs offshore and retain its lucrative banking contracts with the NSW Government.

“Westpac holds a number of major contracts with the NSW Government, including the transaction banking account and the government credit card account.

“If the O’Farrell Government was serious about protecting jobs, the Premier would tell the big banks their contracts will be up for review and the NSW Government will no longer be doing business with them if they continue to cut jobs while posting record profits.

“NSW has already haemorrhaged 35,000 jobs under the O’Farrell Government and now we see 500 more going at Kell and Rigby and another 500 at Westpac. What will it take for the Premier to finally take action to protect NSW jobs?

“NSW is bleeding jobs under the O’Farrell Government. Instead of the 100,000 new jobs we were promised during the election campaign, we have lost 35,000 jobs and counting.

“The Premier should heed Labor’s call today and tell the big banks their NSW Government contracts will be up for review if they sack NSW workers and send jobs offshore.”