Jane Hume (Victoria, Liberal Party) Share this | Hansard source

I will also remind the chamber of what the member for McMahon, Chris Bowen, said when he was Assistant Treasurer, again for more than 1,000 days. He had the power to propose inquires and to draft laws, but he also did nothing. When Chris Bowen was the minister, he said, 'Our two market guardians are the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission. The standards they set are world's best practice.' That is what the Labor Treasurer at the time said, and that was reported in The Sydney Morning Herald in 2008, yet now there is a call for a banking royal commission. The irony abounds.

In 2015, Senator Whish-Wilson will recall he put forward a motion for a royal commission into the financial services industry, and Labor voted against it. They voted against it in 2015. Let me remind you about the Murray inquiry, for those of you that have not read it. I in fact have, and I was employed to read it before I came into parliament. The Murray inquiry was—

Senator Dastyari interjecting—

I was.