My question is directed to the Minister for Finance, Senator Cormann. In this chamber last year I asked the government why it wouldn't agree to a royal commission into our finance sector. Former Senator Brandis answered by saying that the government had addressed issues of misconduct and that a royal commission was not needed. As we all know, only a few days later the government caved in. Only a few weeks into the inquiry, we are now hearing almost daily about the banks' disgusting conduct against the Australian public. Does the government now recognise that the royal commission was needed and that it failed to address issues of misconduct by banks as it said?