Max Chandler-Mather (Griffith, Australian Greens) Share this | Hansard source

I hear interjections. Even here, where usually there isn't that much colour and flavour, even here you hear Labor members opposite strenuously defending their decision to back down on the million-dollar banker fines. What's your response to that? What's your response to saying, 'We will roll over for the big banks and cut million-dollar fines when they break the law'? What do you think should happen to them when they break the law? But at the same time you won't stand up for the millions of people in this country who are in need of cost of living relief. You won't stand up for the people who are watching as this government hands $368 billion to the US and the UK for nuclear attack submarines that we are going to get in three decades, but they can't build enough homes to tackle the housing crisis. They can't fully fund our public schools. They can't lift people out of poverty. There are still people having to live on $48 a day, by the way, pensioners still living above the poverty line. You are willing to roll over for the banks in a day, but you can't stand up for the people that you're meant to represent in this place. How often do we see this from this government? Again and again and again. Labor will roll over for the banks, but they won't stand up to the rich and powerful, who are the ones right now making people's lives tough in this country.

Really, when it comes down to it, you only have to look at where the profit is going and where the misery and the terrible cost of living burden is going. While the Commonwealth Bank records a $5.15 billion record profit, rents have skyrocketed, mortgages have skyrocketed, the cost of living has skyrocketed. We know that the Australian Institute found that multinational corporations increased their profits above increases in expenses by $160 billion. The government can't bring themselves to introduce a super profits tax and use that money to actually provide serious cost of living relief, but they will roll over for the banks in a single day.

This incident, reneging on a deal struck with the Greens, speaks to everything that is wrong with Australian politics. We will be moving a third reading amendment. You will get a chance to stand up and explain to your constituents why banks shouldn't be fined $1 million. I'm really looking forward to that, actually. It really reminds me of why so many people are fed up with politics and politicians. I'm sure a lot of them would love you to explain why bankers should get an easy ride and they should get a tough one.

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