Nationals MP Llew O’Brien says he’ll back O’Sullivan bank inquiry bill

Nationals MP Llew O’Brien has confirmed he’ll support a bill pushing for a banking inquiry being championed by party colleague Barry O’Sullivan.

Nationals Senator Barry O'Sullivan, who is championing a banking inquiry bill.

Queensland Nationals MP Llew O’Brien has confirmed his intention to support a bill pushing for a banking inquiry being championed by party colleague Barry O’Sullivan in a move that could force the Turnbull cabinet to change position or face humiliation on the floor of parliament.

Speaking to The Australian, Mr O’Brien said: “I am respecting the party process and will be speaking to my colleagues in the National Party. But obviously consideration has been given to my input to this bill. And I am looking favourably on it.”

Mr O’Brien had asked Senator O’Sullivan to make an addition to the terms of reference for his financial services inquiry to ensure people managing mental health issues could not be discriminated against.

The amendment proposed by Mr O’Brien — obtained by The Australian — states that the inquiry will examine the “use by banking, insurance, superannuation and financial services providers of issues relating to the mental health of consumers in order to deny liability to such consumer or limit their rights.”

The Australian revealed this morning that Mr O’Brien was “open-minded” about supporting Senator O’Sullivan’s inquiry in the lower house but would be discussing the issue in next week’s Nationals Party room meeting.

He has since hardened his position and, along with North Queensland LNP MP George Christensen, are now flagging an intention to vote with Labor, Greens and crossbench MPs in support of Senator O’Sullivan’s bill.

The growing support for a commission of inquiry into the banks will place new pressure on Malcolm Turnbull with more members of the Nationals defying the formal cabinet position of opposition to an inquiry.

Mr Turnbull is certain to face new calls to take ownership of the issue and allow an inquiry to proceed despite conflicting views on whether this would be seen as a backdown after Labor campaigned to implement a banking royal commission.

Some Nationals are saying the party-room might decide to adopt support for Senator O’Sullivan’s banking inquiry as formal policy — a move that would split the Coalition and see the party in open defiance of the position adopted by the Turnbull cabinet.

This could see Nationals ministers abstaining on any vote in the lower house with Queensland Nationals Senator and Resources Minister Matt Canavan telling Sky News he remained opposed to an inquiry.

“I think it’s best for us to try and deliver real and practical results for people. That’s why the government has strengthened the powers of ASIC and given them more funding,” he said. “I do respect both Barry O’Sullivan’s and George Christensen’s viewpoints. Of course, John Wacka Williams has been on this for years.”

“I think the ploy by the Labor Party in the last couple of years to bring this onto the agenda is pretty cynical.”

Mr Christensen has today launched a website which makes the case for a banking commission of inquiry, saying he had heard too many stories of farmers and small business owners being ripped off.

“Misconduct in the banking sector is real and current, and though other measures to address it have been raised, I fixed on the position 12 months ago that we needed either a royal commission or a commission of inquiry into the banks,” Mr Christensen said. “It’s a stance I have taken because I believe it’s the only way we can shine a light on some of the issues of repeated unconscionable conduct.

“There is a need to take strong action to address the appalling treatment of people who have done nothing wrong, other than trusting a bank to look after them.

“And any commission of inquiry I support will also investigate unconscionable conduct in the insurance and superannuation industries.”

Mr Christensen said his website provided a means for people to “not only read about why we need a banking commission of inquiry but also sign a petition.”

The website address is located at www.bankinquiry.com.au