Following the CBA’s posting of another record profit, the Greens today said they would use their position in balance of power in the new Senate to push for a new levy on the big four banks and a banking Royal Commission.
The Greens Treasury spokesperson Adam Bandt and Finance spokesperson Senator Peter Whish-Wilson today said that the big banks are the big winners from the government’s response to the Financial System Inquiry. The Greens said they will seek to ensure any measures to limit credit card fees also apply to ATM fees and called for stronger action to prevent future financial advice scandals.
“The big banks seem to be the winners from the government’s response to the Financial Systems Inquiry,” Mr Bandt said.
Greens Deputy Leader and Finance spokesperson Adam Bandt MP today said Treasurer Joe Hockey's proposed levy on bank deposits may get passed straight on to consumers, and instead has proposed an alternative model where the levy would be restricted to the big four banks.
"The Greens are concerned that a levy on all bank deposits could be passed directly onto everyday consumers if the levy is simply applied across the board to all banks," Mr Bandt said.
Greens Deputy Leader and finance spokesperson Adam Bandt MP has welcomed reports that the government is finally listening to the remittance industry and convening its agencies to address the looming threat to thousands’ of Australians ability to transfer money to families overseas.
Deputy Greens Leader and spokesperson on Finance, Employment and Workplace Relations Adam Bandt MP today responded to Tony Abbott’s claims that we can’t afford to increase wages of our public servants in line with inflation.
“Tony Abbott says we can’t afford for public servants’ wages to keep pace with increases in the cost of living. This would see cuts to their real wages in coming years,” said Mr Bandt.
The government’s move to increase the number of shareholders who can call a special company meeting could allow institutional investors to block scrutiny of company activity, said Deputy Greens Leader and Finance spokesperson, Adam Bandt MP.
“The government proposes to increase the number of shareholders required before a special company meeting can be called. This could allow institutional investors to block scrutiny of company activity by ensuring extraordinary general meetings never happen,” said Mr Bandt.