Katy Gallagher (ACT, Australian Labor Party) Share this | Hansard source

The opposition will be supporting Senator Williams's motion to refer these issues to the Parliamentary Joint Committee on Corporations and Financial Services. We will not stand in the way of this important work, unlike those opposite, who are blocking a royal commission. Labor's preference would be for the government to establish a royal commission into the banking and financial services sector that would put a stop to the scandals and misconduct and that would restore public confidence in Australia's financial institutions. But we will support this motion because we believe these are significant issues that should be examined by this committee.

Question agreed to.