Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Hansard source

Those members opposite are apparently happy to have their names recorded as voting against a royal commission. Well, at least they are being told that is what they are going to do, even if they do not want to. I wonder how the debate went in the party room this morning about a royal commission? All those people who were lions in the party room a couple of hours ago: where are they in the parliament? Lions in the party room and mice in the parliament, not prepared to vote for a royal commission! Prepared behind closed doors to tell the Prime Minister that he is out of touch, but not prepared to stand up here for their constituents today.

We are prepared to stand up for them. We are prepared to stand up for a royal commission. Where is the National Party on the issue of a royal commission? Struck dumb in the House of Representatives! Not prepared to vote for it. Well, they are welcome to vote with us to send a message to His Excellency to call the royal commission now. The royal commission could get on with it. It does not have to wait for an incoming Shorten Labor government, it can be done today.

But if you fail, we will act. We will lead; we will have a royal commission because Australia needs one. Australia's banks need one and Australia's financial system needs one. Australia's financial system is not working in the best interests of every Australian consumer. It is not. This Treasurer might think it is and this Prime Minister might think it is—well, they are abjectly out of touch. They are abjectly out of touch with the views of Australia's financial consumers.

This opposition knows that as we provide an alternative we will lead. We will lead with the power of our ideas and policies, and we will set the agenda in this parliament—as they have singularly failed to do. What a joke for this parliament to be called back as a matter of great urgency—for the Prime Minister to stand outside and say it was so urgent for the parliament to come back and for us to end on Tuesday with a whimper, not only in this House but in the other house as well! Going home—Qantas and Virgin must be delighted! That is the only economic activity that is coming through—flights in and out of Canberra for a phantom sitting!

Well, how about a real royal commission? Not a phantom sitting of the House; a royal commission which would deal with Australia's financial system. (Time expired)

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