In February 2017, Morrison addressed the House of Representatives while holding a lump of coal, stating "This is coal. Don't be afraid. Don't be scared. It won't hurt you," and accusing those concerned 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 was raised in the Presbyterian Church of Australia, which partly merged into the Uniting Church when he was a child. He later became a Pentecostal, and now attends the Horizon Church, which is affiliated with the Australian Christian Churches, the Australian branch of the Assemblies of God. He has said "the Bible is not a policy handbook, and I get very worried when people try to treat it like one." In late 2017, Morrison stated that he would become a stronger advocate for protections for religious freedom.