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Transcript of doorstop interview: Canberra: 25 October 2018: Scott Morrison's cuts to ASIC; Banking Royal Commission



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THE HON MATT THISTLETHWAITE MP SHADOW ASSISTANT MINISTER FOR TREASURY SHADOW ASSISTANT MINISTER FOR AN AUSTRALIAN HEAD OF STATE

MEMBER FOR KINGSFORD SMITH

E&OE TRANSCRIPT DOORSTOP INTERVIEW THURSDAY, 25 OCTOBER 2018

SUBJECTS: Scott Morrison’s cuts to ASIC; Banking Royal Commission

MATT THISTLETHWAITE, SHADOW ASSISTANT MINISTER FOR TREASURY: Good morning. Over recent weeks we’ve seen some shocking revelations from the Banking Royal Commission. A decade of scandals, rip-offs and banks doing the wrong thing by their customers and clients. The Banking Royal Commissioner has made some suggestions about what’s been going on with the regulators and the fact they haven’t been properly resourced and they haven’t taken on the banks when they’ve had the opportunity to send a clear message about this greed and behaviour that’s been going on over the last decade.

It’s important that everyone knows and understands Scott Morrison’s record as Treasurer of Australia. This is the bloke that voted 26 times against the Royal Commission into Banking and Finance in Australia. And this week it’s been uncovered that he also cut nearly $200 million from the budget of ASIC, the corporate regulator, who has the job of looking after and prosecuting the banks and people who have been doing the wrong thing by their customers in this industry.

That’s $200 million less that this organisation has had to hire people with the expertise to prosecute what’s been going on in banking and finance with the corporate greed, rip-offs and scandals. Scott Morrison should apologise to all of those victims of bank fraud in this country for cutting the budget of ASIC and for voting 26 times in the Parliament against a Royal Commission. Given what’s been uncovered in the Royal Commission, those who’ve been victims of these terrible acts by the banks deserve an apology from Scott Morrison as Prime Minister and for voting against a Royal Commission 26 times when he was the Treasurer.

Any questions? Thanks.

ENDS

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