The billionaire Fox family which controls Armaguard says it is committed to the country’s dominant cash transport business, described the Reserve Bank of Australia’s push for more powers over it as unusual, and suggested Labor is moving too slowly to ensure a future for banknotes and coins.

Peter Fox, the executive chairman of Armaguard, said the family had “given no indication that it is slightly interested in the sale or the loss of management of the business if fair prices are achieved”.