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New foreign investment rules a beat-up

Today's big announcement by the Treasurer on tightening our foreign investment laws is more politics than policy, says Greens Treasury spokesperson Senator Peter Whish-Wilson. 

"On the surface of it, today's announcement is all about politics. The Treasurer is sending a message to the hard-line conservatives in his own party about cracking down on foreign investment, especially potential Chinese state-owned investment in Australia.

"The idea that somehow this is a significant reform or shift in our foreign investment laws is simply a beat-up of epic proportions. 

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Banking royal commission legislation: at risk of no vote

Greens treasury spokesperson Senator Peter Whish-Wilson calls for the banking royal commission’s legislation to go before Parliament, warning pushed-back dates could lead to years in delay for crucial banking reform. 
 
“I’m disappointed that the Government has chosen to delay the legislation coming before Parliament for a vote. 
 
“The option is there to delay implementation start dates, but to delay the legislation altogether is overreach.
 
“I call on the Government to bring this to Parliament as planned.
 

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AMP short on cultural change

Greens Treasury spokesperson, Senator Peter Whish-Wilson, commented on the appointment of David Murray as the new Chair of AMP.

“I'm genuinely surprised at this announcement by AMP.

“If AMP wanted to make an appointment that would drive cultural change, or be seen to be doing so, there will be many people justifiably sceptical on whether David Murray is right for the job.

“David Murray is one the key architects of the sales-driven, profit-before-people culture that was the result of the vertical integration model of the big banks.

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Abbott fails to act on Treasury Secretary's call on housing bubble

Under questioning from the Greens Spokesperson for Finance, Senator Peter Whish-Wilson, the Treasury Secretary John Fraser said that, for Sydney and parts of Melbourne, the housing market was ‘unequivocally’ a bubble.

When Senator Whish-Wilson later questioned the Reserve Bank, Assistant Governor Malcolm Edey added that “…a lot of people do think it’s a bubble – serious people think that – and we agree that this is a situation where the market is strong, it’s overheated, it’s a risky situation…”

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