Scott Morrison likes to tell Australians that hes on their side and hes backing them, well todays report that he was the last man standing against the Banking Royal Commission and had to be overruled by Malcolm Turnbull puts pay to that.

Wherever you look, you get a daily reminder that good judgement is not Scott Morrisons strong point.

What is most concerning about todays report is that Scott Morrison, the last to back a Royal Commission into the banks, only did so after receiving a letter from the major banks calling for one.

Mr Morrison was more concerned about his own reputational damage for backflipping after years of publicly and vociferously opposing an inquiry, than he was in the need to rebuild Australians trust and confidence in the banking and financial services sector.

Scott Morrison and the Liberal Party has mismanaged banking policy from the very beginning, voting 26 times against establishing a Royal Commission, refusing to extend it to hear from more victims of scandals, and now it appears the Treasurer wants to deny Australians the right to see the final report when it is received on 1 February.

You know you are seriously out of touch when Malcolm Turnbull managed to form the view of the need for a Banking Royal Commission well before Scott Morrison did.

We know that Scott Morrison never really wanted to call this regrettable but necessary Royal Commission and the New Daily reports many Liberal MPs still opposed it being constituted in the first place.

Meanwhile, Josh Frydenberg cannot even confirm whether or not he will release the Banking Royal Commissions final report when he receives it on Friday 1 February.

Refusing to release the Royal Commissions final report immediately would unnecessarily politicise the handling of the report and give rise to potential material market risks around leaks of all or part of the report.

Labor called for this Royal Commission, Labor fought for this Royal Commission, Labor will establish a Financial Services Royal Commission Implementation Taskforce, and Labor will work day and night to protect Australian consumers from this appalling misconduct.