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Solution to Four Corners housing exposé is to regulate propety investments as a financial product

Greens Treasury spokesperson, Senator Peter Whish-Wilson, has reiterated calls for investment property to be treated as a financial product in the wake of the 4 Corners report on the state of the housing market in Australia.

Senator Whish-Wilson said, “Australia’s housing market is a debt-fuelled bubble driven primarily by tax breaks to investors. This is distorting the entire economy, creating enormous financial risk, and pushing the price of housing out of the reach of young people.

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Greens secure Senate Inquiry into the future of Australia’s recycling industry

Greens spokesperson for waste and recycling, Senator Peter Whish-Wilson, provides the following comments on the successful move by the Greens to establish a Senate Inquiry into the future of the recycling industry following the exposé on Four Corners.

Senator Whish-Wilson said, “I have been pursuing these issues in the recycling industry for years but the recent Four Corners episode has really brought the crisis out into the open.

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Commbank’s $10 billion profit is a siren song on what is wrong with the Australian economy

Greens Treasury spokesperson, Senator Peter Whish-Wilson, responded today to the Commonwealth Bank’s record profit announcement.

“The announcement of a $10 billion profit by Commonwealth Bank is emblematic of what is wrong with the Australian economy.

“Despite having a record of bad behaviour as long as your arm, CBA is making record profits and paying their executives millions and millions while ordinary Australians watch their wages freeze and the cost of housing spiral out of control.

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The big bucks should stop with Ian Narev and his executives, who could still get a fat $10 million package

Greens Treasury spokesperson, Senator Peter Whish-Wilson, has labelled the decision by the Commbank board to cut just the short-term cash bonus of Ian Narev and his colleagues, while leaving the remainder of their bonuses in-tact as simply 'stunning'.

Senator Whish-Wilson said, “The big bucks should stop with the Commonwealth Bank CEO and senior executives. Not one of them should get a single cent in bonuses, whether those bonuses are in shares or in cash, or whether they relate to this year’s performance or the last four years.

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Four Corners exposes crisis in nation’s recycling industry while government sits silent

Greens spokesperson on Waste & Recycling, Senator Peter Whish-Wilson, responded to Monday’s 4 Corners program that exposed the crisis in Australia’s recycling industry.

“This problem has been a long time coming. The fall in commodity prices has demolished the previously successful business model based around co-mingled kerbside recycling.

“The response of government to this slow building crisis has been woeful. Millions of Australians have been diligently sorting their rubbish all for nothing. This is an outrage.

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Commbank bonuses were reportedly tied to roll-out of ATMs at centre of alleged money laundering scandal

Greens spokesperson for Treasury, Senator Peter Whish-Wilson, is calling on the Board of Commonwealth Bank to consider the position of Ian Narev today, and to cancel all senior executive bonuses in their meeting prior to the release of the annual financial results.

Senator Whish-Wilson said, “If the Board of Commbank wants to start to rebuild trust in their organisation they need to make sure that no senior executive with any oversight of this alleged money laundering scandal gets paid one single cent in bonuses this year.

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CBA scandal: Government must relent on Bank RC and CBA must cancel all executive bonuses

Greens Treasury Spokesperson, Senator Peter Whish-Wilson, says that Commbank money laundering scandal shows that the culture in the financial services sector is still suspect and only a Royal Commission or a Parliamentary Commission of Inquiry will return public confidence in this critical sector.

Senator Whish-Wilson said, “The behaviour of Commbank that emerged during the Senate Inquiry into ASIC was what sparked the first call for a Royal Commission. I am sick of being told by overpaid executives that everything is ok in this sector, when it is clearly not.

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Statement on citizenship

 "In 1968 I was born in Singapore. My parents were there while my father was serving with the RAAF as part of the Australia’s Vietnam War efforts.

 

“Under Singapore law I could not have become a citizen of Singapore by birth unless one of my parents was also an existing Singapore citizen. Singapore also does not allow dual citizenships for adults.

 

“There is no circumstance under which I could have inadvertently become a citizen of Singapore.

 

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Federal Government repeats the mistakes of Macquarie Harbour by green-lighting Okehampton Bay salmon farm

Greens spokesperson for Healthy Oceans, Peter Whish-Wilson provides the following comments on the green-lighting of the Tassal salmon farm at Okehampton Bay.

Senator Whish-Wilson said, "I'm bitterly disappointed, but not surprised, that the federal Liberal Government has chosen to stand by Will Hodgman in an election year, and refused to do a full environmental feasibility study on the the Tassal Okehampton Bay expansion.

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