Scott Morrison warns against rash response to banking royal commission


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Prime Minister Scott Morrison says the Australian economy faces “significant consequences” if the banking royal commission triggers a credit crunch, while warning an election contest over which party is tougher on the beleaguered financial services industry risks undermining the system.


Mr Morrison, who was treasurer when the Coalition ordered the royal commission despite opposing an inquiry for years, predicted former High Court justice Kenneth Hayne’s final report would contain “legitimate” criticism of the government’s financial regulators when publicly released on Monday.



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However, he rejected claims thousands of victims of misconduct had been overlooked during last year’s public hearings and pledged to put consumers at the heart of his government’s response.


“It will be a question of what suggestions or measures they put on the table but I will be very mindful that I want to see the oil that lubricates our financial system – which is access to credit – continues to flow, otherwise the consequences would be quite significant,” Mr Morrison told The Sydney Morning Herald and The Age in Brisbane.


Article source: https://hollywoodlife.com/2018/11/19/ariana-grande-kisses-courtney-chipolone-instagram/

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