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Time to make banks act in public interest

Adam Bandt 15 Oct 2015

In response to Westpac’s interest rate rise, Greens treasury spokesperson Adam Bandt MP today said it’s time for banks to act in the public interest and called on Treasurer Scott Morrison to reconsider the Greens’ public support levy.

“The big four banks make world-leading record profits off the back of public support,” Mr Bandt said.

“Yet as soon as they’re asked to make themselves more secure, they hit the public by jacking up their interest rate and making their customers pay more.”

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Tax avoidance: Serious Financial Crimes Taskforce has found the tip of the iceberg

Adam Bandt 14 Oct 2015

Greens treasury spokesperson Adam Bandt MP today said the Serious Financial Crimes Taskforce’s recovery of $85 million in unpaid taxes is just the tip of the iceberg of Australia’s tax avoidance problem.

“Enforcing the current law is one thing, but it’s small change when you consider the pot of gold that’s disappearing offshore because the law is insufficient,” Mr Bandt said.

“The Senate Inquiry into corporate tax avoidance, initiated by the Greens, has exposed huge loopholes in the current law that this government needs to address.”

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PM Turnbull’s economic challenge: tackle inequality, global warming

Adam Bandt 17 Sep 2015

The Australian Greens have challenged new Prime Minister Malcolm Turnbull to dump the "nope, nope, nope" attitude of his predecessor when it comes to economic reforms that would reduce wealth inequality and face up to the reality of global warming.

"You can't have a serious economic plan if you've got Tony Abbott's climate policy leading into this election, and that's where Malcolm Turnbull is right now," said Greens Leader Richard Di Natale.

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Time for Hockey to change tack on Budget: Bandt

Adam Bandt 8 Sep 2015

In response to the Parliamentary Budget Office’s update on the impact of the government’s unlegislated measures on the Budget, Greens Treasury spokesperson today said that it’s time for Joe Hockey to change tack by ditching his unfair attacks on everyday Australians. Mr Bandt said to address the revenue crisis that Australia is facing, the Treasurer should end unfair tax breaks like super concessions and negative gearing.

“The PBO update confirms that Joe Hockey needs to change tack if he insists on balancing the Budget,” Mr Bandt said.

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Summit backs Greens’ Retirement Review Push

Adam Bandt 27 Aug 2015

Greens Treasury spokesperson Adam Bandt MP today welcomed the National Reform Summit’s action plan backing the Greens’ push for a review into the retirement system, as well as other key Greens policies, but warned that the it completely underestimated the impacts of climate change on our future prosperity.

“The action plan agreed by the business, union and community leaders at yesterday’s summit endorses the Greens’ push for a broad review into our retirement income system,” Mr Bandt said.

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Hockey would have to put GST on health, food & education to fund income tax cuts

Adam Bandt 26 Aug 2015

Greens Treasury spokesperson Adam Bandt MP has released new research showing that Treasurer Joe Hockey, who has floated the idea of an expanded GST, would have to extend the GST to health, education and fresh food to fill the Budget hole created by his proposed income tax cuts.

“The Treasurer is planning a tax shift, not a tax cut," Mr Bandt said.

"He’s ruled out balancing the books by reforming unfair tax breaks for the wealthy, but he remains happy to talk about making everyone else pay through a broader GST.”

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Budget may never return to surplus under Hockey’s ‘magic pudding’ tax cuts

Adam Bandt 25 Aug 2015

Greens Treasury spokesperson Adam Bandt MP today said new research suggests that Treasurer Joe Hockey’s mooted ‘bracket creep’ tax cuts may see the Budget never return to surplus, unless the government increases other taxes or introduces new spending cuts.

"We don't have a budget crisis but we will have a revenue crisis if a $25 billion hole is punched in the government's income stream,” Mr Bandt said.

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CBA record profit shows government has wrong target for raising revenue

Adam Bandt 12 Aug 2015

Responding to news that the Commonwealth Bank has posted a record $9 billion profit, Greens Treasury spokesperson Adam Bandt MP today said the government is targeting everyday Australians to raise revenue when they should be looking at the Big 4 Banks. Mr Bandt called on the government to ditch its plan to increase the GST and instead put a levy on the profits of the Big 4 Banks.

“Time after time, we hear news of the Big 4 Banks putting away record profits,” Mr Bandt said.

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Hockey backs Greens’ bank deposit levy model

Adam Bandt 11 Aug 2015

Greens Treasury spokesperson Adam Bandt MP today welcomed reports that Treasurer Joe Hockey is supporting the Greens’ model for the bank deposit levy and said that the Greens would support passing a well-crafted levy through the Parliament in the next sitting fortnight.

“I’m pleased to hear reports that the Treasurer has listened to the Greens’ call to apply a bank deposit levy to only to the Big 4 Banks,” Mr Bandt said.

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Stop the tax cuts arms race: Bandt

Adam Bandt 10 Aug 2015

In response to Treasurer Joe Hockey’s remarks today that rich people should be taxed less, Greens Treasury spokesperson Adam Bandt MP said the measure would make the revenue crisis worse. Mr Bandt called on Labor not to join the Treasurer in making the next Federal Election a tax cuts arms race.

“The Treasurer is out today again calling for tax cuts for rich people. He has said that high income earners in Australia need to be taxed less because apparently they have the potential of going to other countries to earn an income so we need to tax them less here,” Mr Bandt said.

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