Labor slams Liberal Tim Wilson's franking credit inquiry as 'unethical', says he must quit

The Federal Opposition has accused Liberal MP Tim Wilson of unethical behaviour and called on him to resign as the head of a parliamentary committee examining a contentious Labor policy.

Mr Wilson has led town-hall style meetings across the country seeking feedback on Labor's plan to scrap franking credits, a cash refund utilised by self-funded retirees.

Labor MPs believe this is a breach of committee conventions and that the hearings, with no formal witness schedule, are being used to whip up opposition before an election campaign.

Mr Wilson has confirmed he sought a testimony from a high-profile fund manager and a distant relative, Geoff Wilson, who manages his investments.

The financial relationship, first reported by The Sydney Morning Herald, is disclosed on Mr Wilson's register of interest but was not acknowledged before the committee.

Geoff Wilson is the founder and manager of Wilson Asset Management, which manages some of Tim Wilson's investments and has led the charge against Labor's policy.

The fund manager has argued that Labor's policy is unfair and that public statements by Opposition MPs have "demonstrated contempt for individuals with valid concerns".

Tim Wilson has acknowledged he is distantly related to the fund manager, which was also not acknowledged before the committee.

"All rules have been adhered to," the Liberal MP said.

"If you go back 120 years before cars were invented there's a connection as my father's, father's father is the same as his father's father.

"I met with a range of stakeholder groups in the lead up to the first round of hearings to promote attendance, and actively encouraged participation including from Geoff Wilson."

'Clear and fundamental breach'

Mr Wilson's inquiry is unusual because parliamentary committees normally examine the impact of government legislation, rather than seeking feedback on Opposition policies.

Labor MPs have also complained about Coalition backbenchers handing out Liberal Party membership forms at the hearings.

"Tim Wilson must resign immediately as the chair of the House Economics Committee because he has a massive conflict of interest as he's a shareholder in the company that is leading the charge in undermining this policy," said Labor's Matt Thistlethwaite, who serves as Mr Wilson's deputy chairman on the committee.

Shadow Treasurer Chris Bowen went further and demanded prime ministerial intervention.

"Tim Wilson has no choice but to resign and if he won't resign the Prime Minister should sack him," he said.

"This is a clear and fundamental breach of convention, of understanding and, frankly, of standing orders."

A website established by Mr Wilson also encouraged people to attend the inquiry and to sign a petition against Labor's policy.

Contact details were then taken for future campaign activities, although this feature has since been disabled.

Mr Wilson has defended the inquiry process insisting no rules have been broken.

"Labor has consistently tried to shut these hearings down," he said.

"They know the only thing standing between their capacity to steal retirees overpaid tax is this inquiry giving them a voice.

"If only Labor would take as much interest in the financial security of retirees and the consequences of this policy as they have trying to shut down this inquiry to silence those affected."

He will be out on his arse with the rest of them soon enough 

Well fukk me dead. A senate inquiry that's politically motivated. What a bunch of crooks.

Tim Wilson is a poofter. 

Hmmm.. we seen this before, where the government takes taxpayer money to attack their political opponents.