X
  • About
  • Advertise
  • Contact
  • Events
Subscribe to our Newsletter
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
  • News
    • Markets
    • Regulation
    • Super
    • M&A
    • Tech
    • Appointments
  • Podcast
  • Webcasts
  • Video
  • Analysis
  • Promoted Content
No Results
View All Results
No Results
View All Results
Home News

Royal commissions a result of government distrust: Hayne

Financial services royal commission leader Kenneth Hayne has suggested governments are referring too many matters that could be dealt with through legislation to independent inquiries, as they have lost the trust of the people to govern.

by Sarah Kendell
August 5, 2020
in News
Reading Time: 3 mins read
Share on FacebookShare on Twitter

Addressing Victoria University’s Sir Zelman Cowen Centre for legal training on Wednesday, Mr Hayne said the degradation of political debate and resulting lack of trust across Australian and other developed economies’ governments had meant that the public no longer trusted parliamentarians to address significant problems in society.

“Slogans supplanting reasoned debate about policy may go some way to explaining why, in recent years, difficult issues of public policy have often been referred to royal commissions and other external inquiries,” Mr Hayne said. 

X

“Those bodies generate reports that are, or should be, independent and reasoned. Frequent use of independent commissions of inquiry may suggest that governmental structures can now deal effectively only with the immediate emergency and cannot deal with the larger issues that face us. 

“One reason that may be so is that the space left by the absence of reasoned debate is filled with slogans coined by partisan participants. And this happens even where the basic information on which reasoned debate would be based is freely available to the whole community.”

Mr Hayne mentioned Indigenous constitutional recognition and climate change as two key issues which had become subject to “sloganeering and peddling of… misleading ideas” in Australian political debate, as well as Brexit in the UK and Russian interference in the US election.

“Nativist populist leaders have come to the prominence they now occupy by endless repetition of slogans accompanied, too often, by repeatedly denying the undeniable and shouting down those who would speak truth to power,” he said.

As a result, trust in government as well as other “systemically important institutions” had been degraded, he said.

In order to force these institutions to become more accountable, the public must “insist upon absolute honesty and integrity,” Mr Hayne added.

“We must do what we can to impress upon those who seek office that power is not the objective, that ‘having the numbers’ in the branch, the faction, the party, the legislature, is not the end,” he said. 

“What matters is what our democratic institutions do, and how they do it. And all our democratic institutions are based upon reasoned and informed debate.”

Mr Hayne also cited steps taken by the government during the COVID-19 health crisis as a good example of institutions communicating the need for significant change in a factual manner.

“Governments have very quickly made radical changes in the ways we live and work. They have done that by telling society the facts as simply and clearly as they can,” he said.

“Society has responded to being trusted with the facts that are known and has recognised that difficult judgments have had to be made. And government has brought about great changes so that, together, we can pursue shared purposes.”

Related Posts

Markets locked and loaded on defence ETFs

by Olivia Grace-Curran
January 9, 2026

Trump’s call for a US$1.5 trillion FY2027 defence budget - the largest proposed increase in more than 70 years -...

Super CIOs share 2025 performance contributors

by Laura Dew
January 9, 2026

Superannuation funds AMP, HESTA and Rest have all shared their calendar year performance for 2025 and what drove these returns....

Will institutions push crypto past the Rubicon?

by Olivia Grace-Curran
January 9, 2026

Institutional investors, clearer regulation and a shift toward long-term investing are pushing cryptocurrency closer to the financial mainstream, with 2026...

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

VIEW ALL
Promoted Content

Why U.S. middle market private credit is a powerful income solution for Australian institutional investors

In today’s investment landscape, middle market direct lending, a key segment of private credit, has emerged as an attractive option...

by Tim Warrick
December 2, 2025
Promoted Content

Is Your SMSF Missing Out on the Crypto Boom?

Digital assets are the fastest-growing investment in SMSFs. Swyftx's expert team helps you securely and compliantly add crypto to your...

by Swyftx
December 2, 2025
Promoted Content

Global dividends reach US$519 billion, what’s behind the rise?

Global dividends surged to a record US$518.7 billion in Q3 2025, up 6.2% year-on-year, with financials leading the way. The...

by Capital Group
November 18, 2025
Promoted Content

Why smaller can be smarter in private credit

Over the past 15 years, middle market direct lending has grown into one of the most dynamic areas of alternative...

by Tim Warrick, Managing Director of Principal Alternative Credit, Principal Asset Management
November 14, 2025

Join our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

Latest Podcast

Podcast

Relative Return Insider: MYEFO, US data and a 2025 wrap up

by Staff Writer
December 18, 2025
After more than two decades, InvestorDaily continues to be an institution that connects and influences Australia’s financial services sector. This influential and integrated media brand connects with leading financial services professionals within superannuation, funds management, financial planning and intermediary distribution through a range of channels, including digital, social, research, broadcast, webcast and events.

Subscribe to our newsletter

View our privacy policy, collection notice and terms and conditions to understand how we use your personal information.

About Us

  • About
  • Advertise
  • Contact
  • Terms & Conditions
  • Privacy Collection Notice
  • Privacy Policy

Popular Topics

  • Markets
  • Appointments
  • Regulation
  • Super
  • Mergers & Acquisitions
  • Tech
  • Promoted Content
  • Analysis

© 2026 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited

No Results
View All Results
NEWSLETTER
  • News
  • Markets
  • Regulation
  • Super
  • M&A
  • Tech
  • Appointments
  • Podcast
  • Webcasts
  • Promoted Content
  • Events
  • About
  • Advertise
  • Contact Us

© 2026 All Rights Reserved. All content published on this site is the property of Prime Creative Media. Unauthorised reproduction is prohibited