A major bank will help foot the bill for a glitzy pre-election political fundraiser to be fronted by Treasurer Scott Morrison and his deputy Kelly O'Dwyer at the same time as they are resisting calls for a royal commission into the scandal-plagued banking sector.
The $1200 to $2500-a-table breakfast, scheduled for 10 days after Mr Morrison delivers his first budget, will be held under the banner of co-sponsor National Australia Bank.
NAB is one of two corporate sponsors for the May 13 event organised by the Higgins 200 Club, a fundraising body that supports Ms O'Dwyer, the federal member for Higgins.
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Assistant Treasurer Kelly O'Dwyer pictured in New York earlier this week. Photo: Trevor Collens
The breakfast will be held in the Palladium Room at Melbourne's Crown Casino and will include a panel discussion with former Liberal treasurer Peter Costello, the previous member for Higgins, and former Reserve Bank of Australia board member Warwick McKibbin.
Tickets for the fundraiser start at $150 per head and a table of 10 at the event starts at $1200 for Higgins 200 Club members and $1350 for non-members, while "premium corporate tables" at the event cost $2500.
Based on the capacity of the Palladium Room, which has hosted the Logie Awards, the event could raise $100,000 to $150,0000 before venue hire and catering is subtracted.
Former treasurer Peter Costello helps Kelly O'Dwyer launch her campaign to win the seat of Higgins in 2010. Photo: Joe Armao
Neither Ms O'Dwyer or the NAB would tell Fairfax Media how much the bank's sponsorship was worth.
In 2014 it was revealed Labor was charging groups of business people $3300 for intimate boardroom lunches with Opposition Leader Bill Shorten.
Ms O'Dwyer, who was a former adviser to Mr Costello, was an NAB executive before she inherited Higgins from her former boss in 2010.
Along with Mr Morrison, she has rejected Labor's call for a banks royal commission, which could be potentially damaging to major players in the financial industry.
In response to the CommInsure scandal in March she described the allegations of unethical behaviour by bank executives as "deeply shocking ... deeply concerning and they need to be properly investigated" but backed the Australian Securities and Investment Commission as the best equipped to investigate.
A spokeswoman for Ms O'Dwyer, who is in the United States for finance meetings of the G20, International Monetary Fund and World Bank, said she was not involved in securing the NAB as a sponsor.
"Decisions on sponsorship are made independently by the Higgins 200 club," she said in a single line statement.
Ms O'Dwyer's office did not respond to a list of questions posed by Fairfax Media around whether it was appropriate to have a major bank as a financial sponsor during the political firestorm over a royal commission - a Labor proposal supported by some members of the Coalition.
Mr Morrison, who will deliver an analysis of the budget for Coalition donors, has insisted ASIC is a "tough cop on the beat" and there is no need to spend the $50 million-plus required for a royal commission.
The Coalition has been left exposed on the issue, having stripped $120 million from ASIC's budget.
Read more: http://www.smh.com.au/federal-politics/political-news/fundraiser-for-assistant-treasurer-kelly-odwyer-to-be-sponsored-by-nab-amid-banking-firestorm-20160415-go7c4y.html#ixzz45wvKHGgg
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Read more: http://www.smh.com.au/federal-politics/political-news/fundraiser-for-assistant-treasurer-kelly-odwyer-to-be-sponsored-by-nab-amid-banking-firestorm-20160415-go7c4y.html#ixzz45wulfyQ0
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