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Bandt moves to ban takeover mergers

Amendments to prevent the big four banks from acquiring smaller lenders are due to be moved in Parliament later today by Greens MP and banking spokesperson Adam Bandt.

Mr Bandt's changes to the Competition and Consumer Amendment Bill (No. 1) will ensure the ACCC will prevent mergers such as Westpac's takeover of St George.

"Australia has one of the most concentrated banking sectors in the world and it is killing competition for consumers."

"The Australian banking market is the most concentrated it has been for a century."

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Bandt congratulates climate commission on forum

Greens MP Adam Bandt joined the Prime Minister, members of the Cabinet and other MPs at today's public forum held by the Climate Commission at Parliament House.

Mr Bandt congratulated the Commission on a fantastic forum and said it reinforced the need for urgent and profound action.

"The Commissioners are to be congratulated on an excellent event", Mr Bandt said.

"The Climate Commissioners clear answers to my question about the climate impact on Australia's agriculture show we have no time to waste."

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Bank super-profits tax must be considered: Bandt

Greens MP and banking spokesperson, Adam Bandt, has said the Senate Inquiry Report into Banking competition released today has failed to deal with the key problem of taxpayers and consumers failing to get a fair return for underwriting the big banks.

As banks post record profits, Mr Bandt said it was time to start considering a super-profits tax on the banks.

Mr Bandt called on the Government to:

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De Kretser is right on floods: Bandt

Greens MP Adam Bandt has backed yesterday's comments from the Victorian Governor on the relationship between climate change and flooding and has said Premier Baillieu is being irresponsible in denying the link.

"The immediate task is to ensure the safety and welfare of Victorians affected by the floods. But this should not prevent us from having a discussion about the impact of climate change and the likelihood of these extreme events recurring," Greens MP Adam Bandt said.

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Climate change debate

This motion seems simple, but accepting it means accepting all the consequences that flow from it. By publicly calling the science of climate change ‘crap' and then cleverly maintaining wiggle room, as the members for Flinders and Mitchell have just done-that, perhaps, any changes in temperature are not in fact human induced - the opposition condemns itself globally as a fringe group unwilling to accept the logical consequences of the argument that they have made for many years.

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Bandt backs ACTU on executive pay

Greens MP Adam Bandt has backed the ACTU's push to rein in corporate pay saying it was time the government stepped in to regulate excessive corporate salaries.

The ACTU released a report today that found the average CEO receives almost 100 times the pay of an average worker.

"The Greens want to see a 50% marginal tax rate on incomes above $1 million and a cap on executive salary packages of $5 million a year", Mr Bandt said.

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Greens legislation to control mortgage hikes already in Parliament

 

Australian Greens Leader Bob Brown called on all parties to support Greens legislation already before both Houses of Parliament that would control unfair mortgage increases.

"My banking bill is already in the Senate and Adam Bandt MP yesterday gave notice of his intention to introduce it into the House of Representatives," said Senator Brown.

"The bill not only protects customers from unfair mortgage hikes but would also ban set $2 bank ATM fees and ensure all banks offered basic fee-free accounts.

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