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Federal Budget a cynical mess: Greens

This budget is a cynical attempt to buy votes instead of planning for the nation’s looming challenges. What we needed was a plan to tackle the climate emergency through a real investment in renewables and a managed transition away from coal and other fossil fuels. What we needed was a plan to tackle growing inequality and to fund our essential services. Instead Scott Morrison and Josh Frydenberg have stuck their heads in the sand and delivered a few election bribes.

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$324 billion reasons the PRRT is a joke

Treasury spokesperson, Senator Peter Whish-Wilson, today commented on new tax statistics released by the ATO revealing tax credits to oil and gas giants have ballooned to $324 billion. 

 

"The PRRT is the most egregious rort in the Australian tax code.

 

"The failure of successive Liberal and Labor governments to address this problem has resulted in oil and gas companies accumulating a whopping $324 billion worth of tax offsets.

 

"This equates to around 70% of the Commonwealth Government’s total revenue.

 

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Greens circulate amendments to Protecting Your Super Package Bill

Greens Treasury spokesperson, Senator Peter Whish-Wilson, has circulated amendments to the Protecting Your Super Package Bill that is listed for debate in the Senate today, and that makes changes to the provision of group insurance through default super.

 

Senator Whish-Wilson said, "The Greens’ amendments retain group insurance as opt-out for default super.

 

"While there are many problems with the way life insurance is provided through super, the underlying principle of default super, including low-cost group insurance, is good public policy.

 

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Senate to start year by further deregulating the finance industry

Greens Treasury spokesperson, Senator Peter Whish-Wilson, commented on the likely passage through the Senate of Treasury Laws Amendment (2018 Measures No. 2) Bill 2018 which will expand the FinTech regulatory sandbox.

 

Senator Whish-Wilson said, “In the wake of the Royal Commission, it looks like the first piece of legislation the Senate will pass is one with the sole purpose of further deregulating the financial market.

 

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ASIC should investigate Banking Royal Commission leak

Greens Treasury spokesperson, Senator Peter Whish-Wilson, commented today on suspicions of insider trading on the morning of Monday 4 February 2019 based on a leak of the final report of the Hayne Royal Commission.

 

Senator Whish-Wilson said, "ASIC is best placed to investigate whether there was any illegal market activity.

 

"At Senate Estimates, in two weeks’ time, I will be asking ASIC about this issue.

 

"Unlike any internal investigation by Treasury, ASIC can and should be able to identify who made large volume trades on Monday morning.

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Banking Royal Commission report a small step towards the reform we deserve

Today’s disappointing final report into the banking and financial services industry will slow, but not end decades of money grabbing and unethical conduct, the Australian Greens have said today.

“The enthusiasm from the Liberal and Labor parties to accept these recommendations tells you all you need to know. The financial services industry is one of the biggest donors to both old parties, and they will all be laughing all the way to the bank tonight,” Leader of the Australian Greens Senator Richard Di Natale said.

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