The Morrison Government is backsliding again on the Banking Royal Commission.
 
In 2019, Commissioner Hayne recommended a compensation scheme of last resort for investors who’ve been ripped-off by financial misconduct.
 
The Government pledged to implement one.
 
Now, there’s only two senate sitting days left between now and the next election and time is running out.
 
Scott Morrison first pledged to introduce the scheme almost five years ago, following recommendations of the Ramsey Review.
 
Last year Josh Frydenberg put legislation into the parliament to establish the scheme.
 
Labor will support it.
 
There is no excuse for another holdup and no reason other than rank incompetence of this Government for not getting this done before the election.
 
I have written to the Treasurer today to reaffirm Labor’s support for his bills and calling on him to work with us to pass them.
 
Unless Josh Frydenberg now opposes his own legislation, he must list the bills for debate and allow the parliament to vote on them.