Responding to the royal commission will take at least 40 pieces of legislation, a senior government minister has admitted, while confessing nothing will happen until after the May election.

The government is attempting to fight off an attempt by Labor and the crossbench to deal with the Kenneth Hayne banking royal commission recommendations with an extra sitting fortnight, which would see the parliament recalled against the government’s will in March.

Christopher Pyne said the government would not be forced into implementing the recommendations until it was clear on what needed to occur.

“No, we won’t be doing that, and we won’t be doing it for a simple reason,” Pyne told the ABC.

“To change the laws around financial services and respond to the banking royal commission in the way that we wish to will take about 40 different pieces of legislation.

“So trying to do that in a rushed job to fulfil a political stunt that the Labor party is trying to pull is no way to govern.

“And what we’ve tried to do in the last five years, of course, is to be sensible and methodical about the way we govern, and that’s what we’ve done.

“So no, we won’t be calling the parliament back for another two weeks of feverish, rushed law-making, for something that’s far too important for political stunts.”

The treasurer, Josh Frydenberg, has previously said legislation currently before the parliament deals with some of the issues raised in the banking royal commission, and urged Labor to support it to ensure it passes.

But Labor has pointed out the government has only promised to “take action” on each of the 76 recommendations in Hayne’s final report, and more legislation was needed, pushing to recall parliament. Pyne said that was not going to happen.

“It will take time to draft those 40 pieces of legislation and to get them right,” he said.

“And so many times over the years, we’ve seen legislation introduced into the parliament to try to fulfil an unnecessary schedule, you know delayed requirement that’s apparently been set by someone and then only a few months later, having to come back to fix that legislation because we got it wrong.

“So we’re not prepared to do that. We want this to be a proper response. We’ve said that we will take action on all 76 of the recommendations of the royal commission.

“We will tread carefully on mortgage brokers because we don’t want to smash competition in the banking sector.

“Ironically, Labor is taking the side of the big banks by removing competition of the 16,000 mortgage brokers.

“We won’t be doing that. We’ll be treading more carefully and this is exactly why we won’t be rushing legislation into the parliament for a feverish two-week sitting just to please Bill Shorten and the Labor party.”

Labor has not ruled out moving a motion to amend the existing sitting calendar, which would need all the support of all the crossbenchers to succeed.

All have indicated to Guardian Australia they are open to recalling parliament, with Bob Katter considered the crucial vote.

The government has included debate on superannuation as part of the sitting schedule for the next two weeks, which includes legislation which would penalise superannuation fund trustees for breaching best interests obligations.