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It's time to break up the banks: Greens

Leader of the Australian Greens Dr Richard Di Natale and Treasury Spokesperson Sen. Peter Whish-Wilson today unveiled a proposal for a sweeping overhaul of our banking and financial services sector, as well as the regulatory and governance system underpinning it. Simply put: it's time to break up the banks.

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Pressure of impending Bank Royal Commission continues to reap dividends for public

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ScoMo should bring forward the account portability measures to stick it to the big banks

Greens Treasury spokesperson, Senator Peter Whish-Wilson, is calling on Scott Morrison to bring forward the account portability measures in the budget, to make it harder for the big banks to pass on costs to customers.

Senator Whish-Wilson said, “The Greens took full bank account portability as a policy to the 2016 election. Bringing this in would allow customers to change bank accounts with a couple of mouse clicks.

“If we brought forward bank account portability, then the first bank to put up fees would be faced with an immediate exodus of customers.

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CBA record profit shows government has wrong target for raising revenue

Adam Bandt 12 Aug 2015

Responding to news that the Commonwealth Bank has posted a record $9 billion profit, Greens Treasury spokesperson Adam Bandt MP today said the government is targeting everyday Australians to raise revenue when they should be looking at the Big 4 Banks. Mr Bandt called on the government to ditch its plan to increase the GST and instead put a levy on the profits of the Big 4 Banks.

“Time after time, we hear news of the Big 4 Banks putting away record profits,” Mr Bandt said.

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Hockey's deposit levy should only apply to big 4 banks: Greens

Greens Deputy Leader and Finance spokesperson Adam Bandt MP today said Treasurer Joe Hockey's proposed levy on bank deposits may get passed straight on to consumers, and instead has proposed an alternative model where the levy would be restricted to the big four banks.

"The Greens are concerned that a levy on all bank deposits could be passed directly onto everyday consumers if the levy is simply applied across the board to all banks," Mr Bandt said.

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We can afford to pay our public servants fairly: Greens

Deputy Greens Leader and spokesperson on Finance, Employment and Workplace Relations Adam Bandt MP today responded to Tony Abbott’s claims that we can’t afford to increase wages of our public servants in line with inflation.

“Tony Abbott says we can’t afford for public servants’ wages to keep pace with increases in the cost of living. This would see cuts to their real wages in coming years,” said Mr Bandt.

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