Described as a ‘populist whinge’ by Treasurer Morrison, the Banking Royal Commission has more than shown, in the last few days, that it is a Royal Commission Australia had to have. We have been shocked by revelations of unscrupulous banks preying on vulnerable customers.
The Turnbull Government, who were brought kicking and screaming to this Royal Commission, are now saying it is likely it will need to be extended.
Sadly, if the Turnbull Government had heeded the calls by Bill Shorten in April 2016, the commission would have already concluded its inquiry, flushed out the dodgy financial service providers and individuals, and the recommendations of the commission would already be rolling out.
We are hearing of shocking rip-offs and rorts on a scale that we never imagined. I am proud that Labor kept up the pressure on the Turnbull Government and forced it to commence this important Royal Commission.