Tony Abbott strolls through Parliament in his gym gear
Former Prime Minister Tony Abbott strolled into the parliamentary chamber in his gym gear.
The Liberal backbencher showed off his toned thighs and biceps on Thursday as many of his colleagues nursed possible hangovers from the Mid Winter Ball.
While the budget was never in the black under his watch, he certainly was on the House of Representatives floor - in a black Adidas lycra top and short shorts.
The member for Warringah, from Sydney's Northern Beaches, would certainly have no trouble tightening his belt and looked fit for office, at least in the physical sense, as he showed off his triceps in a tight, short-sleeved shirt.
Tony Abbott displayed his political muscle wearing a black lycra Adidas shirt in parliament
The Liberal member for Warringah wore his gym gear into the House of Representatives
His successor Malcolm Turnbull, meanwhile, had heavy lifting of a different nature on his mind after the Senate voted to establish a parliamentary inquiry into the banks.
They used their parliamentary muscle as bank executives prepare to front a Senate hearing into the government's proposed $6.2 billion levy on the liabilities of the five big banks.
A private bill co-sponsored by the Greens and crossbenchers - including One Nation, the Nick Xenophon Team, Derryn Hinch and Jacqui Lambie - to establish a commission of inquiry into banking and financial services passed the Senate with Labor's support on Thursday.
The bill now goes to the lower house where support for it is likely to fall one vote short in a tight chamber.
The former prime minister looked ready for a political arm wrestle in Parliament House
The Greens say they've secured 75 votes, with outspoken government backbencher George Christensen indicating his support.
But the vote of a second government MP is needed to suspend proceedings in the lower house and force a vote on the bill.
It's understood up to six government backbenchers from rural electorates impacted by bank misconduct have been in discussions over recent months about potentially supporting the bill.
Nationals senator John 'Wacka' Williams had vowed to cross the floor to support the bill in the upper house, but he wasn't required to since it passed without a formal division.
Tony Abbott has a taste for debating legislation as parliament considers a banking inquiry
Greens senator Peter Whish-Wilson said it was a historic moment, with the Senate voting only for the second time since Federation to establish a parliamentary commission of inquiry.
'A parliamentary commission of inquiry has equivalent powers to a royal commission, but rather than reporting to the government, it reports to the parliament,' he said.
The inquiry would hang over the prime minister and the banks 'like a Damocles Sword'.
'Either Malcolm Turnbull sets up his own royal commission or he runs the risk that parliament does it without him,' Senator Whish-Wilson said.
Shadow treasurer Chris Bowen told parliament the coalition government had instituted at least 12 reviews and measures relating to banks.
The former Liberal Party leader took it in his stride being behind his leader on the floor
In case you're wondering, Tony Abbott had time to change into a suit for Question Time
'(But) only a royal commission into the banks will deliver the systematic, structural and cultural change that the banking and financial services sector needs,' he said.
Mr Bowen was speaking during a debate on the proposed $6.2 billion levy on the big five banks to help with federal budget repair.
The levy is expected to pass parliament next week, but not before bank executives put up a last-ditch fight.
Representatives from Westpac, ANZ, Commonwealth Bank, NAB, Macquarie and the Australian Bankers Association will front a public hearing in Canberra on Friday, seeking to amend the bill if not head it off altogether.
Westpac argued in its submission the levy should not go ahead, but if it is to be amended it should have a 2021 sunset clause and include foreign banks.
There should be a mechanism to suspend the levy if a bank is under financial stress and the liability base should be narrowed to exclude products and transactions where the imposition of the levy could have 'an adverse impact on liquidity and pricing'.
Banks say the levy will need to be passed on to either customers, employees, shareholders or suppliers.