Bowen, Chris, MP

Mr BOWEN (McMahon) (12:15): The government is paralysed but the parliament can issue it leave—what else can this parliament do? We have been called back, with no agenda and no legislation, and we are offering to provide some—to provide some legislation which will actually say that this parliament can lead where the government has failed! And the government has failed every financial consumer in this country! The government has failed every person with a bank account in this country! The government has failed every victim of a financial scandal— Government members interjecting— The SPEAKER: Members on my right! Mr BOWEN: Well, the parliament can step in, and we are offering for the parliament to step in now. We are offering for the parliament to call a royal commission, which this Prime Minister and this Treasurer have abjectly failed to do—this Treasurer, whose great achievement is to defend $120 million worth of cuts to ASIC; this Treasurer, whose great achievement is to deny 41 warnings from ASIC that they needed more resources and more powers. This is a government which completely ignores the wishes and completely ignores the needs of Australia's consumers. This is a government which completely ignores the evidence— Mr Chester interjecting— The SPEAKER: The member for Gippsland! Mr BOWEN: that a royal commission is needed and is urgent. This is a government which is refusing to accept that the member for Gippsland's constituents and all the constituents of the members opposite absolutely want a royal commission into the banks. They absolutely want to see a government standing up for them. They actually want to see a government which is prepared to take a decision—not a decision to hold an advertising campaign, not a decision for spin but a decision for substance! We are prepared to provide plenty of speakers for this motion. We are prepared to provide plenty of agenda, because we have a Leader of the House who is having a rostered week off—a rostered week off! We were called back for urgent business. We were called down to the other place yesterday and asked by His Excellency to deal with the registered organisations bill, which the Leader of the House has not even managed to bring in for debate! Well, thank goodness the opposition is prepared to lead the debate. Thank goodness the opposition is prepared to come in and say, 'Well, if the government doesn't have any business, we have some.' Do you know what our business is, Mr Speaker? A royal commission into Australia's financial system. That is what our business is—a royal commission which will be held in public; a royal commission which, for the Treasurer's information, would have better and more powers than ASIC; a royal commission which would hear from victims; a royal commission which would recommend changes to whistleblowing laws; and a royal commission which could recommend changes to compensation. That is what the Australian people want their government to be doing. The government refuses, but the parliament is prepared to. Or, at least, this side of the parliament is prepared to. We are prepared to have our names recorded in a few moments time as voting for a royal commission— Mr Chester: Help him out! Mr Joyce: Give us another turn! There we go—like that one! Mr BOWEN: Those members opposite are apparently happy to have their names recorded as voting against a royal commission. Well, at least they are being told that is what they are going to do, even if they do not want to. I wonder how the debate went in the party room this morning about a royal commission? All those people who were lions in the party room a couple of hours ago: where are they in the parliament? Lions in the party room and mice in the parliament, not prepared to vote for a royal commission! Prepared behind closed doors to tell the Prime Minister that he is out of touch, but not prepared to stand up here for their constituents today. We are prepared to stand up for them. We are prepared to stand up for a royal commission. Where is the National Party on the issue of a royal commission? Struck dumb in the House of Representatives! Not prepared to vote for it. Well, they are welcome to vote with us to send a message to His Excellency to call the royal commission now. The royal commission could get on with it. It does not have to wait for an incoming Shorten Labor government, it can be done today. But if you fail, we will act. We will lead; we will have a royal commission because Australia needs one. Australia's banks need one and Australia's financial system needs one. Australia's financial system is not working in the best interests of every Australian consumer. It is not. This Treasurer might think it is and this Prime Minister might think it is—well, they are abjectly out of touch. They are abjectly out of touch with the views of Australia's financial consumers. This opposition knows that as we provide an alternative we will lead. We will lead with the power of our ideas and policies, and we will set the agenda in this parliament—as they have singularly failed to do. What a joke for this parliament to be called back as a matter of great urgency—for the Prime Minister to stand outside and say it was so urgent for the parliament to come back and for us to end on Tuesday with a whimper, not only in this House but in the other house as well! Going home—Qantas and Virgin must be delighted! That is the only economic activity that is coming through—flights in and out of Canberra for a phantom sitting! Well, how about a real royal commission? Not a phantom sitting of the House; a royal commission which would deal with Australia's financial system. (Time expired)