LIBERALS DRAGGING THEIR FEET ON BANKING ROYAL COMMISSION

JIM CHALMERS MP.
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2 months ago
LIBERALS DRAGGING THEIR FEET ON BANKING ROYAL COMMISSION
JIM CHALMERS MP
After six months of inaction on the Banking Royal Commission recommendations, the Morrison Government now wants to be congratulated for releasing an overdue implementation timetable.
 
After so much delay already, today’s announcement that the recommendations won’t be implemented for another 15 months will be deeply disappointing for the victims of banking misconduct.
 
Australians know that the Liberals aren’t serious about dealing with bank rorts and rip-offs. They are only reluctantly and belatedly responding to the shocking issues that have been raised.
 
The Morrison Government pretended to care about the recommendations of the Banking Royal Commission to get it through an election. But more than six months after the Commission released its final report, it has only implemented four of the 76 recommendations.
 
Labor led the way on calling for the Royal Commission while Scott Morrison resisted it for two years and voted against it 26 times.
 
It has now taken six months for Scott Morrison to release an implementation timetable, only to reveal that this ‘fast-track’ extends to the end of 2020 – almost two years after the final report.
 
It is clear that the Government has only been shamed into action on banking misconduct after months of pressure from the public, the media and the Labor Party.
 
It is time the Liberals and Nationals stopped playing political games in Canberra and focused instead on restoring confidence in the financial sector and delivering action for the victims of banking misconduct.