fbpx
Skip to main content
Financial Assistance Hub

Royal commission is pure politics

23 August 2016

Sydney, 23 August 2016: Today’s revelation by Manager of Opposition Business, Tony Burke MP, that Labor intends to use its proposed royal commission to test the strength of the Government’s one-seat majority proves Labor’s motivations are purely political.

Australian Bankers’ Association Chief Executive Steven Münchenberg said: “It says a lot that Labor has not produced a terms of reference in the four months since it first called for a royal commission – yet has clearly locked down its use as a political tactic against the Government.”

Mr Burke warned the Government that Labor intends to move Parliamentary motions for a suspension of standing orders in favour of a debate and vote on the proposed inquiry when Parliament resumes next week.

“Labor has made all sorts of claims for a royal commission but clearly the real reason is just to attack the Government. It is disappointing that this political tactic risks undermining confidence in our banking system which sits at the core of the economy, at a time of growing global uncertainty.

“In the meantime, banks will get on with implementing comprehensive new measures to protect customer interests, increase transparency and accountability and build trust and confidence in banks.”

ENDS

Contact: Stephanie Arena 0477 470 677 or Nic Frankham 0435 963 913

Latest news

1 / 3
Banks stand ready to support North Queensland communities affected by floods
4 February 2025

The Australian Banking Association (ABA) is urging customers in North Queensland affected by the floods to get in touch with their bank if they are in need of financial relief. ABA CEO Anna Bligh said banks are on standby to assist households and businesses who have been impacted by these severe floods. “My message to… Read more »

Read more
Media Releases
Banks urge Parliament to modernise payment system regulation
4 February 2025

Download radio grabs of Anna Bligh here. The ABA is urging the Parliament to swiftly pass legislation that will ensure Australia’s payments regulatory framework remains fit-for-purpose as digital payments continue to skyrocket. According to the RBA, each month Australians are now making over 500 million payments with mobile wallets worth over $20 billion. This legislation… Read more »

Read more
Media Releases
ABA CEO Anna Bligh to retire
3 February 2025

The Chief Executive of the Australian Banking Association (ABA) and former Queensland Premier, Anna Bligh AC, will retire in mid-2025 once a replacement is appointed. ABA Chair and National Australia Bank CEO Andrew Irvine today announced that Ms Bligh had advised him that she had decided to retire after more than eight years in the… Read more »

Read more