Pauline Hanson aims to bring back people’s bank

Tuesday 05 July 2016

Article by Kelly Emmerton

Pauline Hanson’s return to politics as the head of the One Nation party may herald the “bringing back” of a people’s bank in Australia, and will support Labor’s royal commission into the banking sector.

Pauline Hanson aims to bring back people’s bank

The controversial One Nation leader has voiced her intention to “expose” issues surrounding major political topics such as Islam, climate change and the Australian banking sector.

Hanson said she would support the Labor Party in a royal commission into the Australian banking and finance sector, as she believes it is, “destroying many farming sectors."

One Nation also have a policy to “bring back a people's bank that was run transparently for Australia's early prosperity and that will build infrastructure for future benefit to all households."

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The proposed Royal Commission is a result of Labor and Bill Shorten calling for the big 4 banks to officially explain their business practices, following accusations of misconduct.

"Many Australians have suffered through the decisions of banks and financial institutions," Shorten said.

"Retirees who have lost their retirement savings, small businesses who have lost their livelihood, Australian families who have lost hundreds of thousands of dollars, life insurance beneficiaries, denied justice and legitimate claims.”

Labor estimated the commission would cost Aussie taxpayers $53 million over two years, and would be designed to get to the bottom of the “string of scandals” that Australia’s major banks have been implicated in.

The Australian Bankers' Association rejected the idea, claiming "We don't understand what this royal commission is meant to achieve,” and that many of the incidences have already been dealt with.

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Hanson, who is expecting her One Nation party to secure 4-6 seats in the Senate following the election, the outcome of which remains undecided, has not yet been contacted by either major party for support.

"Have I received a phone call? You've got to be kidding. I'd be possibly the last one they want to pick up the phone to. Let me get sworn into parliament first," she said on the TODAY show.

However, she was insistent that there was no need for her party to stand with either major party, saying, "I'm not there supporting them, I'm supporting the people of Australia who want a fair, honest voice and people who will actually stand up and fight for their needs and concerns."

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