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Labor promising more than half a billion dollars in Royal Commission compensation

A Labor MP says banks are responsible for fixing the issues that have come out of the Royal Commission.

The Opposition has announced a $640-million ‘fairness fund’ to allow Australians access to compensation if they have been wronged by the banks.

Shadow assistant treasurer Andrew Leigh tells Ross Greenwood a bank levy is needed.

“I think it is appropriate that we ask the banks to contribute, in proportion to their size, with an increased levy to repairing some of the harm we’ve been seeing.”

Click PLAY to hear the full interview

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