Stuart Robert (Fadden, Liberal Party, Assistant Treasurer) Share this | Hansard source

Thank you, Mr Speaker. This is the government that instituted the royal commission. This is the government that put the royal commission into place. Let me give some perspective to those opposite. I did all of the post-GFC banking inquiries. I did the Ripoll inquiry into post FOFA. On all of those areas, in all of those issues, not once did those opposite raise this issue. In fact, 34 days before this government was elected in 2013, the Leader of the Opposition made the point that our banks were well regulated and well structured, six years after the GFC, after $60 billion or $70 billion was wiped off the balance sheets of individual Australians, as we saw through all of the post-GFC bank inquiries—and those opposite did nothing. They did nothing on the other side.

Yet what this government has done is legion. Even last week we saw penalties being increased 500 per cent in terms of criminal penalties and 400 per cent in terms of civil penalties, and Labor wanted to vote against that. For six years—

Ms O'Neil interjecting—

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