BANKING ROYAL COMMISSION MUST INCLUDE CSC

If the new Treasurer is serious about allowing more time for the Royal Commission into the misconduct in the Banking, Superannuation and Financial Services Industry to conduct their investigation, he should also extend the Terms of Reference to include the Commonwealth Superannuation Corporation (CSC).

 

CSC is a significant player in the superannuation sector especially for our current and former Australian Defence Force (ADF) personnel.

 

Excluding CSC from the Royal Commission means a key participant in the sector is not being subject to transparency.

 

Labor has written twice to the then Treasurer, now Prime Minister, Scott Morrison to extend the Terms of Reference to include CSC to ensure there is full transparency for our ADF personnel.  

 

However, the Turnbull-Morrison Government have arrogantly dismissed concerns raised by Labor and the veterans community and refused to include CSC in the Terms of Reference for the Banking Royal Commission

 

Comments this morning on ABC radio from the new Treasurer, Josh Frydenberg would suggest the Liberal Government are willing to uncover every stone;

 

 

If the new Treasurer really wanted to “leave no stone unturned” he would extend the Banking Royal Commission to include the CSC and give ADF personnel, veterans and public sector employees confidence in their superannuation scheme.