George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Hansard source

As I was saying, we have one of the best regulated, best governed financial systems in the world. And you do not have to take that from me, Senator Dastyari. As recently as 2012, this is what Bill Shorten said: 'Australia has some of the best banks in the world. It is partly because of our excellent regulatory system and prudential management.' Mr Shorten also said, 'Australia's strong performance through the GFC was in large part due to the strength of its regulatory framework.' Senator Dastyari, it passes strange that you, of all people in the Senate, should be asking this question—because, as you will remember, when, in the middle of last year, the Greens proposed a motion to establish a royal commission into the banking industry, it was you who memorably interjected, 'This is a stunt.' Well, the stunt lies with you now, Senator Dastyari. (Time expired)