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Malcolm Turnbull ... savings guarantee (AAP: Alan Porritt, file photo) Related Story: No need for Govt guarantee on bank deposits: Rudd The Federal Opposition has called on the Government to give more guarantees to consumer's bank savings. Prime Minister Kevin Rudd today said legislation will soon be introduced to Parliament which would guarantee the first $20,000 of an individual deposit. But he has rejected suggestions that the Government follow other European countries and guarantee all bank deposits. Opposition Leader Malcolm Turnbull wants the deposit guarantee scheme to be raised to cover deposits up to $100,000, arguing that the current proposal is out of line with other schemes around the world. Mr Turnbull has also urged the Government to put another $6 billion into residential mortgage back securities, on top... [read full story]
