Anthony Albanese (Grayndler, Australian Labor Party, Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. Why has the Prime Minister failed to bring on legislation arising from the banking royal commission that he voted against 26 times but instead today broken all precedent by ramming through this House, without a word being spoken, this extreme anti-union legislation which was rejected by the parliament only last week?

Scott Morrison (Cook, Liberal Party, Prime Minister) Share this | Link to this | Hansard source

As Treasurer, I introduced the law to this parliament which not only ensured banking executives who do the wrong thing get prosecuted but saw, as a result of the prosecutions that took place under my watch, the biggest corporate fine ever delivered to a company in this country. I introduced laws which meant that banking executives who do the wrong thing should be punted from the banking industry forever. That's what I did on the banks, and those opposite sought to frustrate it. Now those opposite don't want union thugs who attack women being called to account and kicked out of their jobs. We stand up for what we believe on this side of the House, and we believe ugly, militant unionism should have no place in this country. Clearly, by the way he has acted in this place and frustrated and sought to oppose this bill, the Leader of the Opposition believes that it does.

I'll ask the Treasurer to add to the answer.

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

When we released our implementation plan to the royal commission, we said that, by the end of this year, more than 20 commitments would either be implemented or before the parliament, and I'm pleased to tell the House that it is actually 24. The speed at which we have responded to the banking royal commission is in stark comparison to the record of those opposite when they had the Cooper review, which was provided to them in 2010. The first piece of legislation was introduced in the parliament in November 2011, 16 months after the completion of the review. And, with FOFA, it took them almost 23 months from when the PJC tabled its report to when the legislation was introduced.

I'm pleased to say that last week I introduced into the House an omnibus bill that would extend the unfair contract terms to insurance contracts, ensure adequate consumer protection provisions apply to funeral expense policies, introduce a best-interest duty requirement for mortgage brokers and reform mortgage broker remuneration. Only this side of the House can be relied on to implement the recommendations out of the royal commission.