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

Labor will not be supporting this motion. We did put some sensible amendments to the Greens, including inserting the word 'allegations' throughout the motion, as these are currently allegations that will be prosecuted and tested within the Federal Court. We also do not believe that it's the appropriate role of the Senate to give a view on the pay and pay outcomes of particular private companies or individuals. We made a further suggestion that this motion be amended to include Labor's policy of establishing a royal commission into Australia's banks, as we believe that is the only way to get to the bottom of the systemic failures and cultural issues within the financial services sector. Unfortunately, the Greens were not prepared to accept those amendments. It is for those reasons that we cannot support the motion today.