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Endless greed in the banking sector won't be stopped without major reform

GreensMPs 28 Sep 2018

Greens Treasury spokesperson Senator Peter Whish-Wilson and Leader Dr Richard Di Natale have this afternoon welcomed the release of the interim report of the Banking and Financial Services Royal Commission, saying we must now undertake serious reform to clean up the endless greed in the sector.

“Scott Morrison famously said when announcing this Royal Commission that it would not be ‘capitalism on trial’, but it’s now clear that’s exactly what it is, certainly it’s the worst excesses of capitalism on trial,” Senator Whish-Wilson said.

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It's time to break up the banks: Greens

Leader of the Australian Greens Dr Richard Di Natale and Treasury Spokesperson Sen. Peter Whish-Wilson today unveiled a proposal for a sweeping overhaul of our banking and financial services sector, as well as the regulatory and governance system underpinning it. Simply put: it's time to break up the banks.

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Greens say “No Deal” to Labor and Liberal’s tax cuts

The Australian Greens today ruled out supporting both the Coalition and Labor’s personal tax cuts, calling for greater public investment in essential services instead.

“These income tax cut are nothing more than a bribe to try get their massive company tax cuts over the line. People on minimum wage won’t even see $4 a week, with the wealthiest Australians benefiting the most. 

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Malcolm Turnbull’s Trump-style budget a dead end for Australia

“Rarely do budgets give us such stark choices about what kind of future we want for our country, but this one surely does. We have a clear choice between the Liberals’ selfish, dog-eat-dog worldview or a more caring society where we look after each other,” Dr Richard Di Natale said.

“Under the Government’s radical US-style tax plan, a hedge fund manager on $200,000 gets 10 times the tax cut as the person who trims the hedges around his mansion. 

“We have a progressive tax system in Australia but now we have a fight ahead of us to keep it.

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Turnbull's Trump-like company tax cuts dead in the water: Greens

Greens Leader Senator Richard Di Natale today said the Liberal government's failure to secure the votes needed to pass its Trump-like company tax cuts means they're dead in the water. Finance Minister Mathias Cormann confirmed in the Senate earlier this evening that they have only managed to secure 37 votes and that the legislation will not be brought before the Senate until later this year.  

"Malcolm Turnbull and his government's Trump-like company tax cuts are dead in the water," Senator Di Natale said.

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Greens respond to 2017 MYEFO

The Turnbull Government's end-of-year mini budget is mean-spirited, wringing savings out of young people, struggling families and newly arrived migrants in order to keep funding tax cuts to their wealthy mates from the big end of town.

“The Turnbull Government has got just that little bit meaner with today’s budget, which unfairly targets young people, struggling families and newly arrived migrants with $6 billion in cuts,” said leader of the Australian Greens Dr Richard Di Natale.

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Comments on Budget 2017

“If you’re under the age of 35, you’ve been screwed over in this budget - whether it’s the gouging of higher education, the lack of action on climate change or the refusal to tackle housing affordability,” Leader of the Australian Greens Dr Richard Di Natale said.

“It’s clear that the Government finally understands you can’t just keep cutting spending without raising revenue. But this is a budget with no vision or direction for the country. It isn’t a roadmap for the future, it’s a highway to nowhere,” Dr Di Natale said. 

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