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Rudd should not back down on resource tax: Brown

The Rudd Government should not back down to mining industry and billionaires' bluster over a resource rent tax on profits said Australian Greens Leader Bob Brown today.

"This opposition is coming from some of the richest people in Australia, protesting that they will make slightly less profit," said Senator Brown.

"Australia's resources belong to all Australians and mining royalty returns have not kept pace with the enormous profit companies have made during the resource boom.

"We are seeing a contest between plutocracy and democracy - the power of billionaires versus the rights of 22 million other Australians.

"The Greens support a resource rent tax and urge the Prime Minister and cabinet to do the same."

On bank fees Senator Brown said a new Australian Greens bill to be introduced to Parliament on Tuesday would address excessive bank fees, including unfair mortgage hikes and exit fees.

"Australians are charged too much in bank fees and the sector is in need of better national regulation," said Senator Brown.

"My bill would ban $2 ATM bank fees, regulate against unfair mortgage hikes and put a cap on mortgage exit fees. It would also mandate basic, fee free accounts."

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