The Liberal backbencher George Christensen has signalled he will break ranks with the Turnbull government to vote for a non-government bill calling for a commission of inquiry into the banking industry.

The announcement from the outspoken conservative follows the defection of the Liberal senator Cory Bernardi this week.

I've spoken with @realbobkatter re banks. He is going to introduce bill to set up Commission of Inquiry into banks. It will have my support. — George Christensen (@GChristensenMP) February 8, 2017

Christensen spoke with the independent MP Bob Katter about the plan on Tuesday night and the two have agreed to introduce a private member’s bill to parliament in March.

He told Guardian Australia that the Turnbull government did not want to establish a royal commission into the banking industry so he would push for a commission of inquiry instead.



He made an effort to sound conciliatory, saying there was little difference between a royal commission and a commission of inquiry. He said a commission of inquiry would report to parliament, whereas a royal commission would report to the minister who requested it.

He was unsure about the chance of the bill succeeding but said it was important to try to establish an inquiry regardless. “There is a path forward for a vote to happen but whether we are able to achieve it or not, that’s another question,” he said.

“I don’t want to talk it up too much because it’s highly likely that we get the bill brought to parliament, where we need an absolute majority, and even if all the crossbenchers, me, and Labor join together, it’s still not an absolute majority. We’ll need one more vote.”

Asked who would be likely to cross the floor from the Coalition to ensure his bill succeeded, he said: “Probably no one.

“That’s why I say I don’t want to get my hopes up too much, but I’m serious about it. I want to do it in a meaningful way.”

He said the government was “moving in the right direction” on the banks, with its push for an external resolution service, which he fully supported. But he said more needed to be done.

The Greens MP Adam Bandt said: “The Greens originally suggested a commission of inquiry into the banks last year once it was apparent Malcolm Turnbull would not act and set up a royal commission into the banks. I suspect this is just sabre-rattling from George Christensen.”

“The Greens will support any move to set up a much-needed investigation into the big banks.



“I’m more than happy for Bob Katter to pinch the Greens’ idea if it will get it over the line because we desperately need to rein in the big banks.”



Labor senator Chris Ketter, a long time advocate for a royal commission into the banks, said only a royal commission would get to the bottom of the rampant unethical practices in the banking and financial services sector.

“George Christensen is again telling his constituents one thing in Mackay whilst doing the opposite in Canberra,” he said.

