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

My question is to the minister representing the Treasurer, Senator Cormann. In the opening statement of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Kenneth Hayne stated—or, in my opinion, expressed his frustration—that big banks have already properly failed to answer questions about their misconduct and, when pushed to provide the full information requested, indicated that they don't have time to comply. This is not a good look, especially when the short time frame that you've set for this royal commission has already led to concerns that it is a Mickey Mouse royal commission. Are you concerned that at this early stage the banks are playing games with the royal commission and not treating it with the respect it deserves? If so, will you, the Prime Minister or the Treasurer express your anger to the banks and get them to get their information in on time?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

I'm not going to provide a running commentary on a royal commission that has only just started. The royal commission is a royal commission. It has all the powers of a royal commission. The royal commissioner has all the powers of a royal commissioner. He is independent. He has all of the powers he needs. If the royal commissioner were to provide advice to the government at the appropriate time, we would consider it, but I'm not going to interfere in the proper conduct of an independent royal commission which was set up that way and which will report in due course.

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Whish-Wilson, a supplementary question.

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

I'd like the minister representing the Treasurer to actually answer this question. On top of the banks' use of this time-honoured strategy of delaying tactics, Commissioner Hayne also outlined this morning that not all victims of misconduct who have made submissions will get a hearing, due to time and resource limits. This will be disappointing to many Australians. If the commissioner were to come to the government and request an extension of the royal commission's time frame, would you consider that request? Or will you let the banks use delaying tactics to run out the clock and avoid proper scrutiny?

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

What I would again point out to the honourable senator is that this is the first day of the royal commission getting underway. The royal commission is a process that is now underway because there was a view across the parliament that that was the best way forward. It's a matter of public record that that wasn't necessarily the government's position at all times, but we came to the view that in all of the circumstances it was the best way forward. I think the royal commission should be allowed to do its job. The independent royal commissioner has all of the powers he needs to pursue the royal commission as he sees fit, independently— (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Whish-Wilson, on a point of order?

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

I was going to ask the minister to come to the question, President. Would he consider a request if it came to the government?

Scott Ryan (President) Share this | Link to this | Hansard source

I consider the minister to be relevant to the terms of the question asked.

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

Thank you very much. I was actually answering precisely that question. I'm not going to pre-empt what may or may not happen down the track. I think the whole parliament should allow the independent royal commissioner to do his job independently and, if or when certain recommendations are made to the government, the government should consider them in the usual way. (Time expired)

Scott Ryan (President) Share this | Link to this | Hansard source

Senator Whish-Wilson, a final supplementary question.

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

Perhaps you could clear something up for me, Minister. It was stated this morning by the commissioner that existing gag orders such as employment agreements, settlement agreements and severance agreements that may contain non-disparagement terms won't be an impediment to people giving evidence, which is good news. Can you confirm or clarify for this chamber what kinds of protections witnesses will have in public hearings? Will they have an equivalent to full parliamentary privilege? What kinds of protections are in place? Nobody seems to know, and I'm sure that is a problem for people making submissions. (Time expired)

Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

The usual arrangements for a royal commission apply.