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White-collar crime a test for Abbott: Bandt

Responding today to reports that corruption at the highest levels of corporate Australia has gone unprosecuted and inadequately investigated, Greens Deputy Leader, Adam Bandt, has called on the Prime Minister, Tony Abbott, to conduct an inquiry into whether the Australian Securities and Investments Commission and the Australian Federal Police are properly enforcing Australia's white-collar crime laws.

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Fix mining tax not research cuts: Bandt

Greens Deputy Leader and industry spokesperson Adam Bandt says the Greens want to see the mining tax fixed before considering any changes to research and development tax arrangements.

Mr Bandt says the Greens will get behind the positive jobs and innovation announcements made by the government last week but not the R&D cuts linked to the plan.

"The Prime Minister is spreading misinformation about the Greens' position. The Greens will support the jobs bill because we are pro-jobs, but what we will not support are job-destroying cuts to research funding," Mr Bandt said.

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We will close miners asset loop hole: Greens

The Greens currently have a bill before House and the Senate which would close the royalties loopholes. The Greens will now also move amendments to close additional loopholes in the mining tax, which allow mining companies to exaggerate the value of their assets to get a higher tax break.

Closing the depreciation loophole, which allows the big miners to deduct the market value of existing assets over many years instead of deducting the book value over 5 years, could eventually save almost $2 billion a year in lost revenue.

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Show me the money

There's nothing inherently partisan about numbers. From pointing out declining tax revenue to highlighting poor expenditure, people from across the political spectrum will forever argue about how governments should raise money and how it should be spent.

The Greens' recent decision to have our policies costed prompted a range of reactions. We were welcomed for maturing as a political party, yet also accused simultaneously of hiding extremist policies and becoming more conservative.

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Greens will move Bill to lift Newstart $50/week, costed at $2b a year

The Greens will move a Private Member's Bill when parliament resumes to help some of Australia's most vulnerable people, currently being ignored by the Government, by lifting the single rate of Newstart, Abstudy and the single living away from home Youth Allowance by $50 a week and indexing their growth the same way as the Aged Pension.

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Labor should tax millionaires, not slug single parents: Greens

Releasing the party's second initiative costed by the Parliamentary Budget Office, Greens Acting Leader, Adam Bandt, said today that the government could raise $791m over 3 years by imposing a new 50% tax rate on millionaires, avoiding the need to cut single parent payments on New Year's Day.

"The country has a growing revenue crisis. Australia's fiscal cliff may be looming more slowly, but it's coming," said Mr Bandt.

"If we don't increase taxes on big business and the wealthy, then governments will start cutting services and raising the taxes that the rest of us pay."

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Swan should now undo damage and reverse Budget cuts: Bandt

Acting Australian Greens Leader, Adam Bandt, has written today to the Acting Prime Minister, Wayne Swan, calling on the government to reverse the harmful Budget cuts that have been made in the name of achieving the now abandoned surplus timeline.

Mr Bandt says cuts to the single parents payment and university research and the redirection of foreign aid to asylum seeker programs should be reversed.

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Treasurer should now formally abandon surplus: Bandt

Greens Acting Leader, Adam Bandt, has called on Labor and the Treasurer to formally abandon the commitment to a surplus next year.

"Labor has finally been mugged by reality of the revenue crisis and accepted what the Greens, economists and the business community have been urging for some time," said Mr Bandt.

"Labor should now formally abandon its commitment to a surplus so that the next Budget can increase Newstart by $50, build High Speed Rail and put dental into Medicare."

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Revenue crisis means gov must ditch surplus: Bandt

Government accounts released today, detailing a massive shortfall in mining tax revenue, require the government to ditch its surplus straightjacket, says Acting Greens Leader Adam Bandt MP.

"An early political surplus is now a fool's errand," Mr Bandt said.

"There is a growing revenue crisis in this country."

"Unless Labor is prepared to take on big business and fix the mining tax, the only way of reaching an early political surplus is to make massive cuts that will hurt people, small business and the economy."

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Cross-bench joins Greens to plug hole in mining tax

Greens Leader, Christine Milne, and Deputy Leader, Adam Bandt, have welcomed the support of lower house cross-benchers for a Greens bill to plug the royalties hole in the MRRT.

Following Senator Milne's introduction of the Minerals Resource Rent Tax (Protecting Revenue) Bill 2012 into the Senate, Mr Bandt today gave notice he will introduce the bill into the house.

The bill will ensure the Commonwealth loses no revenue when State governments raise royalties and will generate $2.2bn in revenue over the next 3 years.

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