Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

My question is to the Minister for Finance, Senator Cormann. Last week, the Treasurer announced a six-month delay in legislation associated with the 76 recommendations from the Hayne banking royal commission. These recommendations would underpin the biggest sector reform to financial services and our financial system in decades, and many of them will be crucial to Australians in the difficult economic times ahead. The sector has had over 15 months to prepare for this reform but still has recently been on public record calling for legislative delays due to this pandemic. Minister, why have you succumbed to lobbying pressure from the big banks and delayed this much-needed critical reform, and what's to stop big business putting up other reasons in the future that it is not a convenient time for legislative reform for them?