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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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Surplus on the back of single parents and job-seekers, while miners off the hook

Today's projected budget surplus is on the back of single parents, trainees and apprentices, researchers and job-seekers, instead of sensibly plugging loopholes in the mining tax and building a stronger revenue base for future investments, the Australian Greens said.

"Today's Budget update confirms that Labor is more committed to Australia being a coal country than a caring or clever country," Australian Greens Leader, Senator Christine Milne, said.

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Bandt moves for inquiry into RBA scandal

Greens Deputy Leader and banking spokesperson Adam Bandt announced today that he will move in parliament for an inquiry into the growing RBA banknote bribery scandal.

The case for a full independent inquiry into what the RBA knew and did about this growing scandal is now overwhelming, he said.

"I will move in Parliament for the establishment of a full independent inquiry into the banknote bribery scandal. The inquiry should have the powers of a Royal Commission," Mr Bandt said.

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Bandt will amend MySuper bill to protect workers' entitlements

Greens Deputy Leader and employment spokesperson Adam Bandt says he will amend the MySuper Bill currently before the Parliament.

Mr Bandt says the amendments will prevent super funds from gouging additional fees by unilaterally moving an employee's funds from one MySuper product to another after the employee leaves the workplace.

The Industry Super Network has identified that so-called 'flipping' occurred in 12 out 13 major retail superannuation funds and exposed members to increased costs averaging 30% or $292 per year.

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Greens move to scrap royalty free ride from mining tax

Speaking on Meet the Press today, Greens Deputy Leader Adam Bandt has said the Greens will move to scrap the royalty rebate contained in the mining tax legislation.

Mr Bandt said that the Greiner/Brumby review of the mining royalties has confirmed the inherently flawed nature of the government's royalty deal with the big miners. If the rebate was retained, it would put the Commonwealth's mining tax revenue at the mercy of the States, Mr Bandt said.

"We will move in Parliament as soon as possible to remove this unsustainable deal on royalties", Mr Bandt said.

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Turnbull joins government to vote down sovereign wealth fund

Greens Deputy Leader Adam Bandt MP says it is disappointing that Malcolm Turnbull failed to stand by his convictions and today joined with the government and Coalition to vote against a Greens motion on a sovereign wealth fund.

"I am disappointed Mr Turnbull wasn't able to stand by his previous statements in support of a sovereign wealth fund. I am amazed that the government and opposition won't consider a Productivity Commission Inquiry into establishing a fund.

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