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Greens to push vote on Sovereign Wealth Fund: Bandt

Following today's renewed support from Opposition front bencher, Malcolm Turnbull, for the Greens' policy to create a sovereign wealth fund, the Greens Deputy Leader and MP, Adam Bandt, said he would bring on a vote in Parliament on the issue next week.

Mr Bandt's motion, currently before Parliament, would start the process of establishing a new sovereign wealth fund in Australia.

"We need to take some of the benefits of the mining boom and put them away to fund this country's future infrastructure needs" Mr Bandt said.

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Trans-Pacific Partnership Agreement Rally speech – 8 March

There are a number of things I would like to do today but I can't.

I would like to talk to you about the detail of the Trans-Pacific Partnership Agreement (TPPA) - but I can't, the draft text is being negotiated in secret.

I would like to reassure you that the US negotiators aren't demanding changes to our domestic policies - but I can't and the leaks suggest they are.

I would like to explain how the draft agreement will impact on the regulation of intellectual property in Australia - but I can't, it's confidential.

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Qantas cuts mean Fair Work Act must change: Bandt

Greens MP and industry and employment spokesperson Adam Bandt has said Qantas decision to cut jobs was made possible by Australia's unfair industrial relations laws. Qantas used an industrial atom bomb last year to avoid bargaining over job security by maintenance workers, Mr Bandt said.

Mr Bandt said his bill to amend the Fair Work Act would make job security an object of the Fair Work Act and limit employers' ability to use lockouts as a legal tactic.

"Qantas is continuing its off-shoring plan", Mr Bandt said.

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ANZ job cuts mean Treasurer should call Finance Industry Summit: Bandt

Greens' banking spokesperson Adam Bandt called on the Treasurer to hold a finance sector job summit in the wake of ANZ's announcement today to cut a thousand jobs.

Mr Bandt also called on Treasurer Swan to act on Lenders Mortgage Insurance after he acknowledged that it was a barrier to competition. He called on the Treasurer to back the Green's bill allowing insurance to be refunded when customers switch banks.

"A thousand jobs in finance should be just as important as a thousand jobs in manufacturing," Mr Bandt said.

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ANZ decision a slap in public's face: Bandt

Greens MP Adam Bandt has criticised the ANZ Bank for hiking its loan rates by 6 basis points in defiance of the Reserve Bank decision to keep interest rates on hold.

Mr Bandt said the big banks were breaking their social contract with the Australian people.

Mr Bandt said the decision was also serious challenge to monetary policy at a time when the economy is facing serious challenges from the global situation.

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Bank rate rises would break social contract: Bandt

Greens MP and banking spokesperson Adam Bandt has warned the banks against increasing rates following the RBA decision to keep rates on hold.

Mr Bandt says the banks would break their social contract with the Australian public and that he will move ahead with legislation to rein in the banks.

"If the ANZ or other banks hike their rates they risk breaking their social contract with the Australian people."

"The Treasurer should get behind the Greens' legislation for banks to provide mortgages that track RBA rates."

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