ANZ Bank Donates $2 Million to ‘Yes’ Campaign for The Voice

People are seen walking past an ANZ Home loan branch in Melbourne, Australia, on May 3, 2022. Asanka Ratnayake/Getty Images

ANZ Bank has become the first commercial bank in Australia to publicly announce its support for the Indigenous Voice to Parliament.

During a parliamentary inquiry hearing on Sept. 20, ANZ CEO Shayne Elliott confirmed that his company had donated $2 million (US$1.28 million) to the Yes campaign to alter the Constitution.

The Voice is an initiative by the Labor government to embed an advisory body into the Australian Constitution that will have the power to make “representations” to parliament on issues concerning Indigenous people.

The federal government will hold a referendum on Oct. 14, and all eligible Australians must vote to decide whether the country needs such a body.

“Although that would be made public a few weeks after the referendum, it’s been publicly reported that major companies like ANZ have made donations in the region of sort of $2m, and we’re certainly in that range,” Mr. Elliott said, as reported by The Australian newspaper.

While the CEO said ANZ did not officially provide any other form of support to The Voice, he noted that some of the bank’s employees might offer their free time to help the campaign.

“I think a couple of our people may have taken some time to donate their time, but not in an official ANZ way,” he said.

Mr. Elliott also admitted that one of his workers got paid to support the Yes campaign.

ANZ Criticised for Supporting The Voice

Nationals Senator Matt Canavan criticised the bank for its involvement in The Voice, saying most Australians were against it and that ANZ was not in line with its customers’ interests.

“I would have hoped banks would be doing everything they could do to keep interest rates down so people can keep their homes. But these kind of frivolous donations make it hard to think that banks really care about how tough people are doing,” he said.

The senator also called out on ANZ for its closure of branches in remote and rural areas.

Nationals Senator Matthew Canavan at a press conference at Parliament House in Canberra, Australia on Jun. 22, 2021. AAP Image/Mick Tsikas

“A big frustration of [the] people here at the moment with the bank’s closure is the disconnect between the priorities of major banks and major corporate institutions, be it The Voice, be it climate [change], be it other right issues, and the services people are lacking in the bush,” he said.

In recent years, commercial banks have accelerated their branch closures in rural areas to cut operation costs, causing strong objections from the community.

Data from the Australian Prudential Regulation Authority revealed that commercial banks shut down 1,680 branches across the country between June 2017 and June 2022, among which 677 were in regional and rural areas (40.2 percent).

Major Corporations Donating to The Voice Campaign

Mr. Elliott’s statements come after several of Australia’s largest companies donated or implemented other measures to support The Voice.

A survey by the Australian Financial Review revealed that 14 of the 20 top ASX companies supported the movement.

In June, mining giant BHP donated $2 million to the Yes campaign, prompting objections from its shareholders.

Some BHP shareholders have gone online to express their frustration over the company’s alleged attempt to influence public opinion on The Voice.

Mining company Rio Tinto and retail conglomerate Wesfarmers also followed BHP’s example and donated $2 million to the Yes campaign.

Meanwhile, flag carrier Qantas announced in August that it would paint three aircraft with the “Yes23” campaign logo in the lead-up to the upcoming October referendum.

The airline said supporting The Voice would lead to better outcomes for the Indigenous community.

“We believe a formal voice to the government will help close the gap for First Nations people in important areas like health, education, and employment,” then-Qantas Group CEO Alan Joyce said.

“We know there are a range of views on this issue, including amongst our customers and employees, and we respect that. I encourage people to find out more, to listen to First Nations voices, and to make their own decisions.”

Daryl Vandenberg contributed to this article.