ERROL PARKER | Editor-at-large | Contact

The Prime Minister has told the media this morning that he admits failures were made on his government’s part in delaying the Royal Commission into the banking industry.

In addition to that, Malcolm Turnbull also conceded and defending his judgement – saying he had to give the banks time to prepare for the investigation.

“Mistakes were made and I accept full responsibility for the Royal Commission’s delay,”

“However, there were a number of important documents that needed to be shredded. There were offshore bank accounts that needed to be dusted off, you know, that type of boring banker speak,”

“To the layperson, the banks needed to make sure they were fully prepared and compliant in time for the Royal Commission. If we were to start without the banks being prepared, it would’ve cost the taxpayer even more and taken jobs overseas. Is that why the people of Australia elected my government? No.”

A few brave journalists, one of them was surprisingly from the ABC, asked the PM whether it was wise to let the banks destroy key evidence prior to the investigation – to which the PM said ‘no’.

“Weak banks mean a weak economy. A weak economy means no jobs and endless peril for all Australians. I trust you understand. If we didn’t have a GFC, Bill Shorten would still be shouting down collapsed mineshafts from South West Cape to the Barrow Island,”

“And that’s God’s honest truth.”

More to come.



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