2016-04-08
When the Senate resumes the week commencing 18 April the Greens will again move a motion calling for the establishment of a Royal Commission into the Financial Sector. The Greens last moved this motion on the 24 June 2015 at which time it was opposed by the Labor Party and the Coalition Government.
Greens Finance spokesperson, Senator Peter Whish-Wilson, said, "It's time to work out where everybody stands on this. The Australian public are clamouring for Royal Commission to root out crime and misconduct in the financial sector.
"The Labor Party has been fence sitting on this issue for far too long and this has given the Government the freedom to ignore the issues.
"Every major banking institution has been now been implicated in scandals. This runs industry-wide.
"Treasurer Scott Morrison's comments this morning in defence of the sector were hysterical. While he only deals with the banks across boardroom tables and at fundraising dinners, I have to deal with bank executives being evasive at Senate Inquiries and then console victims of the banks who get no redress from the impacts of their dodgy practices.
"It's time for Scott Morrison to get into the real world and stop defending the indefensible and systemic failures of ethics in the financial sector," he concluded.