about the environmental impact of the coal industry of having "an ideological, pathological fear of coal." He handed down the 2017 Australian federal budget in May 2017. In December 2017, the government introduced the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (popularly known as the Banking Royal Commission). Morrison originally opposed the creation of a royal commission, believing that a Senate inquiry would be sufficient. He voted against a royal commission 23 times between April 2016 and June 2017, and in September 2016 described it as "nothing more than crass populism seeking to undermine confidence in the banking and financial system, which is key to jobs and growth in this country." In announcing that the royal commission would take place, Morrison described it as a "regrettable but necessary action." In response to the commission's findings, in April 2018 he announced the introduction of new criminal and civil penalties for financial misconduct, including potential prison sentences of 10 years for individuals and fines of up to $210 million for companies. Morrison handed down the 2018 Australian federal budget on 8 May. He subsequently rejected calls to increase the rate of the Newstart Allowance, saying "my priority is to give tax relief to people who are working and paying taxes." Prime Minister of Australia (2018–2022) Leadership election Prime Minister Malcolm Turnbull called a leadership spill on 21 August 2018 in order to gauge the confidence of the Liberal Party in his leadership. He defeated challenger Peter Dutton by 48 votes to 35. Over the following days, there was repeated speculation about a second spill being called, without Turnbull's approval. Turnbull announced two days later that he would resign the leadership if a spill motion were passed. Dutton, Morrison and Julie Bishop announced they would stand for the leadership if that were the case. A spill motion was passed on 24 August by 45 votes to 40, and Turnbull did not run as a candidate in the resulting leadership vote. On the first ballot, Dutton received 38 votes, Morrison 36 votes, and Bishop 11 votes. On the second ballot, Morrison received 45 votes and Dutton 40 votes. He thus became leader of the Liberal Party and prime minister-designate. Josh Frydenberg was elected as the party's deputy leader, in place of Bishop. Morrison was widely seen as a compromise candidate, who was agreeable to both the moderate supporters of