Prime Minister Anthony Albanese has succumbed to mounting pressure, announcing a Commonwealth royal commission following the terror incident at Bondi Beach.

This afternoon, after speculation swirled about his intentions, Albanese confirmed at an impromptu press conference that he will advise the governor-general to initiate a national investigation.

The inquiry, to be spearheaded by former High Court justice Virginia Bell, will focus on issues of antisemitism and the state of social cohesion in Australia.

“Our nation’s strength as one of the world’s leading modern democracies stems from every Australian’s right to voice their opinions,” Albanese stated. “As prime minister, I value and heed these perspectives.”

He further emphasized, “Our government’s unwavering commitment is to foster unity and social harmony. This is essential for Australia to heal, to learn, and to unite, moving forward together in a spirit of national solidarity.”

“It’s clear to me that a royal commission is essential to achieving this.”

The review into the effectiveness of federal agencies that is currently under way will be folded into the royal commission, but will still deliver an interim report as expected in April.

A NSW royal commission and a police investigation are also running separately, with a decision on whether the NSW inquiry goes ahead still to be made.

The Commonwealth royal commission will cover four areas as set out in the terms of reference:

Bell will be required to hand down her report before the first anniversary of the Bondi attack on December 14 this year. 

“This won’t be a drawn-out process,” Albanese said, after previously saying that royal commissions take years to hand down a report and only delay changes.

Albanese had repeatedly knocked back calls from some of the families of the victims of the Bondi attack, members of his own party, the opposition and the Jewish community to open a federal royal commission, instead opting for more immediate action.

He is expected to recall parliament early sometime this month to introduce a range of reforms announced by the federal government, including a landmark gun buyback scheme, hate speech laws, a new offence targeting the radicalisation of children, and more powers for the home affairs minister to cancel or refuse visas if a person is suspected of promoting violence or hate or is associated with a terrorist organisation.

The prime minister fended off questions from reporters about his backflip today, reiterating that he has been working on a royal commission for weeks after listening to the calls and meeting with members of the Jewish community.

“I’ve engaged constructively regardless of some of the things that have been said. I haven’t engaged in politics. I have been focused on outcomes. That’s the first point,” he said.

“The second is I’ve listened and, in a democracy, that’s a good thing to listen to what people are saying.”

Albanese has assured that the royal commission would not prejudice the court process for the alleged lone surviving gunman, Naveed Akram.