Most people won’t have heard of Nationals backbencher Llew O’Brien, but by supporting a banking inquiry he has launched himself into an issue that is pitting Coalition members against each other.
On Tuesday morning the Nationals MP from Queensland told ABC Radio he would back the proposed bill and intended to vote against the Turnbull Government, which opposes a parliamentary inquiry into the sector.
Crucially, Senator O’Brien could be the vote that pushes an inquiry through the Lower House, with the likely support of Labor and the Greens.
Senator O’Brien joins his Nationals Senate colleagues Barry O’Sullivan and John ‘Wacka’ Williams, as well as Lower House MP George Christensen, who have all said they would cross the floor to support the bill.
However, his vote comes with the condition that an inquiry investigates possible discrimination against people with mental health issues by financial bodies.
He used the example of mothers who suffer from postnatal depression being refused income protection by some institutions.
"That is clearly discriminatory and it does clearly play into adding to the stigma associated with these things and stopping people from getting the treatment they need to intervene early," Senator O'Brien told AM.
"When you have 45 per cent of Australians anticipated to have some sort of mental ill health throughout their life, and then you've got insurance companies discriminating in the way they do, that must have an effect on our country."
He said he was motivated by his own experience with mental health issues.
While serving as a police officer he investigated fatal traffic accidents, leaving him with post-traumatic stress disorder.
"Coming out the other side of something like that and being in a position I'm in now, it's an experience I'm not going to waste."
Julie Bishop says a Royal Commission into the banks would provide 'false hope'. Source: AAP
Could it become Nationals party policy?
With a growing number of Nationals coming out in support of a banking inquiry, there have been reports the Nationals will consider adopting the inquiry as official party policy.
Senator Matt Canavan, who does not support the bill, confirmed today the issue will be discussed in a party room meeting on Monday.
“I’m sure we'll have a discussion next week when we finally meet as a party room and we'll make a decision as a group what we want to do,” Senator Canavan said.
If the Nationals decide to support an inquiry, this could put Senator Canavan in an awkward position because of his place in the Turnbull cabinet.
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Labor and Nationals continue banks inquiry push
LNP Senator Barry O’Sullivan plans to introduce a private member's bill into the Upper House after the same-sex marriage bill is passed.
If passed it will create a Commission of Inquiry, which is similar to a Royal Commission, but reports to parliament as a whole rather than just the government.
The move is supported by the Greens and Labor, as well as an overwhelming majority of the Australian public, according to a recent opinion poll.
An Essential Research poll found that less than 12 per cent of Australians were against an inquiry into the banks.
However, deputy Liberal leader Julie Bishop said an inquiry was unnecessary.
“All a Royal Commission can do is make recommendations to the regulators and already the bank regulators are taking action to resolve disputes that people have with their banks.”
“I’m concerned that a Royal Commission would promise false hope, that a Royal Commission will not recover a cent of compensation, will not resolve any disputes.”
With the Senate dealing solely with same-sex marriage this week, parliamentarians supporting a banking inquiry hope to introduce the bill early next week.
