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Banking royal commission legislation: at risk of no vote

Media Release
Peter Whish-Wilson 11 May 2020

Greens treasury spokesperson Senator Peter Whish-Wilson calls for the banking royal commission’s legislation to go before Parliament, warning pushed-back dates could lead to years in delay for crucial banking reform. 
 
“I’m disappointed that the Government has chosen to delay the legislation coming before Parliament for a vote. 
 
“The option is there to delay implementation start dates, but to delay the legislation altogether is overreach.
 
“I call on the Government to bring this to Parliament as planned.
 
“With the dates now pushed-back to December 2020 and June next year, we risk running into not just the Christmas and New Year period but a looming election.
 
“An early election, in August 2021, could mean that the bulk of legislative reform won’t even come before this 46th Parliament.

“These critical reforms are needed now more than ever during such difficult times. 
 
“We’re talking about the biggest suite of financial reforms we’ve seen in a generation and we owe it to the public to do our job and legislate to make it happen.
 
“It seems to me that the big end of town has got in the ear of this Government.

"Announcement of this delay is just a little too convenient for a sector poised for the biggest shake-up it's ever had.”

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