“The banking industry has extended its sympathy to residents of Williamtown’s red zone, but has cautioned that decisions on lending will hinge on the outcome of further research into the chemicals at the centre of the contamination scandal.

The Turnbull government turned the spotlight back onto the banks on Tuesday, when asked what consideration it had given to addressing the financial impacts of the contamination, which has decimated property values and seen a freeze on lending within the postcode.

Liberal senator James McGrath said the per- and poly-fluoroalkyl chemical [PFAS] taskforce was in talks with the banking industry and providing it with “accurate” information to ‘inform business decisions’…

Senator McGrath said the taskforce had been highlighting the ‘lack of consistent scientific evidence of adverse health effects from PFAS exposure.’ ”

Read the full article by Carrie Fellner.