Malcolm Turnbull is becoming increasingly isolated in his opposition to a banking royal commission following calls today from the Small Business and Family Enterprise Ombudsman, Kate Carnell, for the Government to reconsider one as an option.
The chorus of people calling for a royal commission continues to grow, including from some on Malcolm Turnbull’s own backbench, but the Prime Minister stubbornly continues to protect his banker mates over everyday Australians.
Ms Carnell, who has recently inquired into bank lending practices to small business and found evidence of “unconscionable behaviour” today admits:
“The government can’t keep putting the royal commission off the table, it may have to reconsider it as an option.” – The Sunday Telegraph, Sunday 25 June, 2017.
Malcolm Turnbull cannot continue to rule out a royal commission in the face of calls for one from experts, his own backbench and the majority of Australians.
Labor has known for sometime that a Royal Commission is the only way to get to the bottom of the systemic failures and cultural issues within financial services sector, ensure that consumers are protected from the rip-offs and scandals of the past and that Australians banking and financial system remains strong, profitable and well led.
Under Malcolm Turnbull the big banks will get a tax cut but under Bill Shorten they will get a Royal Commission.
SUNDAY, 25 JUNE 2017