Queensland MP Bob Katter is a step closer to gaining the support he needs to trigger a public inquiry into Australia's banking sector after LNP MP George Christensen revealed he would break ranks with his Coalition colleagues and cross the floor to vote for the bill.
The Turnbull government opposes a royal commission into the banks while Labor and The Greens both support a public inquiry.
The other members of the lower house - the Nick Xenophon Team's Rebekha Sharkie, and independents Andrew Wilkie and Cathy McGowan - have all previously expressed support for a public inquiry too.
However, only a government can set up a royal commission.
"I've spoken with Bob Katter [regarding] banks," Mr Christensen wrote on Twitter. "He is going to introduce [a] bill to set up Commission of Inquiry into banks. It will have my support."
SBS News understands Mr Christensen crossing the floor would bring the numbers in the House of Representatives to 75 for the bill and 74 against, assuming everyone was present for the vote.
However, Labor has not yet made it clear whether it would support the motion put forward by Bob Katter.
“We’ll look at whatever is proposed but Labor won’t stop fighting for a royal commission into the banks,’’ Katy Gallagher, Labor’s spokeswoman on financial services, .
The bill is expected to be reintroduced to parliament in March.
Social Services Minister Christian Porter told reporters on Thursday he was confident Mr Christensen would toe the party line.
"Look I haven't seen exactly what George has had to say," he said.
"George says a number of things at a number of times. So I'll go back and see what he's got to say, but I'm sure that [Mr Christensen crossing the floor] won't occur."
Mr Katter says a commission is needed to investigate malpractice by the banks.
He says his constituents have reached out to him with stories of "loss, intimidation and denial of justice".
Last year the heads of ANZ, Commonwealth Bank, Wespac and NAB were hauled before a parliamentary hearing to answer questions over a series of recent scandals, including the Comminsure life insurance scandal.
RELATED READING
Banks inquiry: ANZ boss fronts parliamentary hearings
Opposition Leader Bill Shorten said he would believe Mr Christensen's pledge to cross the floor "when I see it", but said he thought there were other Coalition members who secretly supported an inquiry.
"I hope that George Christensen votes for a Royal Commission," he said.
"And again, it just shows you how divided the Coalition are. There's a number of backbenchers in the Coalition who would love to vote for a Royal Commission.
"But Malcolm Turnbull's representing the banks in Canberra, so that puts the kibosh on it until we change the government."
