The Prime Minister Malcolm Turnbull is out of step with the Australian people with a new reports showing more 62 per cent of Australians think a royal commission into Australia’s banking and financial services sector is important.

Even Malcolm Turnbull’s own supporters overwhelmingly back a royal commission, with 59 per cent of Liberal/National voters saying they want to see one established in today’s Essential Poll.

Malcolm Turnbull will do and say anything to avoid a royal commission despite the majority of Australians demanding one be established.

Over the past five months we have seen the Prime Minister acknowledge problems across the banking sector yet he consistently fails to do anything about it.

Next week’s sham committee process secretly negotiated and agreed to by the banks won’t do anything to address the unethical and illegal shortcomings that have plagued the banking and financial services sector in recent years.

It’s time for the Prime Minister to stop protecting the banks and instead stand up for ordinary Australian’s including the thousands of victims of financial scandals and rip-offs who continue to fight for justice.

Labor will continue to push for a royal commission because we know that this is the best way to hold the sector accountable for what has happened in the past and prevent scandals in the future.


Senator Katy Gallagher is Labor's Shadow Minister for Small Business and Financial Services.

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