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Senator Bob Brown

I give notice that on the next day of sitting I shall move that:

That the Minister for Communications investigate the direct or indirect ramifications to Australia of the criminal matters affecting the United Kingdom operations of News International, and report back to the Senate.


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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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Curb polarisation between rich and poor - Brown

Australian Greens Leader Bob Brown said today he will move to strengthen legislation with the aim of limiting chief executives' salaries to 30 times the average pay within their corporation.

"The Greens support moves to give shareholders more say and have no intention of having the Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Bill fail," Senator Brown said in Canberra.

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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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Greens move to save $18 billion lost from corporate tax revenue

The Labor government’s proposed reduction of the corporate tax rate from 30% to 29% will cost other taxpayers $2.4 billion in 2013-14 and $18 billion over the next decade, new figures released today by Greens Leader Bob Brown show.

“At a time of huge budget cuts in Australia, we will oppose the government’s proposed corporate tax cut for big business,” Senator Brown said in Melbourne, where he will deliver the keynote speech today at the ACOSS 2011 National Conference.

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Foreign Investment Review Board

(Question No. 358)

Senator Ludlam asked the Minister representing the Treasurer, upon notice, on 13 December 2010:

Given that the function of the National Contact Point (NCP), as an executive arm of the Foreign Investment Review Board (FIRB), is to promote the OECD Guidelines for Multinational Enterprises (the Guidelines) and ‘good corporate responsibility', and to investigate complaints about the behaviour of individual companies in the context of these guidelines:

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Australian Greens seek proper scrutiny of ASX merger

Australian Greens Leader Bob Brown said the benefits of a foreign buy out of the Australian Stock Exchange need to be clearly proven.

"The ACCC's narrow mandate is no substitute for a responsible government decision," Senator Brown said.

 "The Greens will not support any move to exempt the 15% shareholder cap on the Australian Stock Exchange to allow it to be taken over by the Singapore Exchange unless benefits can be clearly proven."

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National Contact Point - Foreign Investment Review Board (FIRB) and the OECD Guidelines for Multinational Enterprises

Estimates Transcript - Economics Committee - Wednesday 20th October
Department of the Treasury

CHAIR-I now welcome the Markets Group of Treasury to the table.

Senator LUDLAM-I think it is Mr Murphy who I want to put some questions to. I was just going back through the transcript from last year and it was a nearly a year ago today that we spoke about the OECD national contact point. Are you still the right person to put some questions to about that?

Mr Murphy-Yes, if you want to. Frank Di Giorgio is here as well.

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