Maverick members talk tough on banks

The Australian 12:00am February 9, 2017

David Crowe

Labor has gained a chance to ­humiliate the government over the power of the banks, as Queensland MP Bob Katter secures crucial­ support in parliament for a commission of inquiry into the sector.

Outspoken Liberal National Party MP George Christensen is preparing to cross the floor if necessary to back the inquiry, breaking ranks with colleagues and lending weight to calls for tougher action over the harm to bank customers.

“I’ve spoken with Bob Katter re banks. He is going to introduce a bill to set up a commission of inquir­y into banks. It will have my support,” Mr Christensen said on ­social media last night.

Mr Christensen, who repres­ents the electorate of Dawson, said the bill to set up the commission was ­unlikely to be introduced until next month and might be dealt with in June. That has cooled expect­ations of an imminent vote in ­parliament that could test the govern­ment’s majorit­y.

The government has 76 seats in the lower house but one of these is taken by the Speaker, Tony Smith, and it is vulnerable to a move by any Coalition MP to cross the floor.

With the support of Mr Christensen and Mr Katter, the commission of inquiry bill might gain a majority with the help of 69 votes from Labor as well as one vote each from Greens MP Adam Bandt, independents Cathy McGowan and Andrew Wilkie, and Rebekha Sharkie of the Nick Xenophon Team.

That means Mr Katter’s bill could gain 75 votes against 74 votes for the government on the floor of the House of Representatives.

Because Mr Katter is seeking a vote on a bill rather than a motion, his ambitions face a significant check at the selection of bills committe­e, which is controlled by the government and could postpone his move so it never comes to a vote.

Mr Bandt said he would ­“believe it when I see it”, given that Mr Christensen had talked tough about the banks in the past without supporting previous attempts to legislate a royal commission into the sector.

“He had a chance to vote for a royal commission last year and squibbed it,” Mr Bandt said.

“This is potentially a bit of sabre-rattling after Cory Bernardi leaves.”

Labor’s spokeswoman on ­financial services Katy Gallagher also questioned the move but backed the case for an inquiry.

“We’ll look at whatever is propose­d but Labor won’t stop fighting for a royal commission into the banks,’’ Ms Gallagher said.

“It’s the best way to stop the rorts and the rip-offs.

“George Christensen talks big in Queensland but he’s a mouse in Canberra.

“If he wanted action on the banks, he would back our plan for a royal commission.”