Luke Howarth (Petrie, Liberal Party) Share this | Hansard source

Mr Deputy Speaker, that's what we get from the member for Hotham. In fact, she wants to reflect on the Prime Minister, as does the member for Herbert. What do we get? The Labor Party had six years to call a royal commission when they were in government. In fact, the member for McMahon, who spoke first today, did nothing in those six years. The member for Hotham conveniently pulled out a couple of examples that were shocking, which the Prime Minister actually addressed in parliament this week, but said nothing about the six years when they were in government. She didn't mention any examples there at all.

The member for Hotham and the member for Herbert want to talk about the ANZ CEO. In the last two years, all they've done is bag the banks. You can bag the banks all you want. You can bag them. Why do we see that happening? For political opportunity. They might want to remember that the banking sector and the finance sector employ 168,000 people in Australia, and they have been bagging them for the last two years—absolutely bagging them, member for Hotham, holier than holier, through you, Mr Deputy Speaker. The fact is that today we heard Minister Andrews talk about the STEM industry, and that there are 10,000 people currently employed in the space industry and 20,000 new job opportunities in that industry. Yet we have 168,000 in the banking and finance industry, the 11th-largest employer.

I'm finding that, in my electorate now, young people who want to get home loans are finding it very difficult. Why? It's not their fault. They are not at fault. Those opposite have bagged the industry for the last two years instead of wanting to work with us. The fact is that this royal commission is happening now, yet they come into this place and what do they want to do? They want to score points, because the Labor Party is holier than holier. Is that right?

They bring up an MPI, but the fact is that the commissioner on this banking royal commission is due to hand down a summary in September and then finalise it next year. They haven't asked for a time extension. They haven't asked for a time extension at all. But no, those opposite want to drag it on. This is all about the Labor Party and how they're perfect and how none of it is their fault. It's not about the superannuation industry, whether it's the private sector or industry funds or self-managed funds. So many people have investments in the banking sector and the finance sector, but they don't mind running it down. They don't mind taking funds away from retirees in the policy that they will take to the 2019 election. Anyone in the gallery that's got shares and relies on dividend imputation knows they're going to tax them more. They want to tax them more. Anyone in the gallery who earns up to $200,000 knows they want to tax them more. They're going to take away the legislated income tax cuts that we've already got through. They fought the whole way against company tax reductions, including wanting to wind back tax reductions for small and medium businesses up to $50 million. No—the Labor Party are holier than holier; that's what they are. That's what the member for Hotham would have you believe. But the fact is that the coalition government, your Australian government, our Australian government, are the ones who called this royal commission.

I've got four or five pages here that I haven't even got to about what we've been doing in the financial sector. I just say to those opposite: they ought to be ashamed of themselves. (Time expired)

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