Senate debates

Wednesday, 13 February 2019

Questions without Notice

Banking and Financial Services

2:58 pm

Photo of Jenny McAllisterJenny McAllister (NSW, Australian Labor Party, Shadow Assistant Minister for Families and Communities) Share this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Cormann. After its voting against a royal commission 26 times and former Prime Minister Turnbull's conceding that the government delayed it by 18 months, the government now refuses to recall the parliament to ensure urgent changes to laws in response to the royal commission. Unlike the government, Labor is committed to ensuring the banks know that if they do the wrong thing they will pay the price. Why didn't the government join with Labor to increase jail time for the most serious corporate crimes from 10 years to 15 years imprisonment and to double the proposed cap on financial penalties to half a billion dollars?

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