Quiggin is right, Turnbull is better than Rudd and Rudd is pissfarting around on this issue.
Savings accounts are the basic place people have to put their money. Philosophically, they are the place money goes when we do not want to take any risks. They are not seen as investments; interest is useless on such accounts most of the time anyway. The public do not accept any risk there and will have a 100% expectation that government will pick up the shortfall or have its collective head placed on the chopping block. Rightly so too.
Action needed, delays not needed. It's that simple.