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Government abandons Banking Royal Commission recommendations

The government’s delay or abandonment of most of the recommendations from the Banking Royal Commission is a commitment to the hands off approach that caused the problems in the first place, the Greens say.

“The Liberals had to be dragged kicking and screaming into this Royal Commission, and they have never accepted that there is serious criminality and bad behaviour within the sector,” Greens Economic Justice spokesperson Senator Nick McKim said.

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Future Fund must divest from Adani

The Future Fund must divest the $3 million it has put into a railway for the climate-destroying Adani coal mine, the Greens say.

Greens Economic Justice Spokesperson Senator Nick McKim said.

"This is public money and should be invested for the public good."

"Having already ruled out investing in tobacco products, the Future Fund must urgently get out of fossil fuels."

"This is a bad investment financially, morally and environmentally. To use public funds to cook the planet is an extraordinary error of judgement."

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Anti-money laundering laws

The Government and Labor have again wasted an opportunity to include real estate agents, accountants and lawyers subject to mandatory reporting of money laundering.

"We have been waiting 14 years for this badly needed reform," Greens Economic Justice spokesperson Senator Nick McKim said.

"Dirty money is flooding Australia's property market, helping to push house prices even higher, and making owning a home even more difficult for too many Australians."

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National accounts show government spending must continue

Today’s national accounts figures show that government support for people who need it most must continue, Greens economic justice spokesperson Senator Nick McKim says.

 

 

“These figures show it was government spending that propped up the rest of the economy,” Senator McKim said.

“And even then, we are still way behind where we were before the pandemic hit. Millions of Australians are unemployed or underemployed.”

“As the OECD has made clear, now is not the time for the government to cut spending.”

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Senate casts doubt on proposed changes to lending laws

Media Release: Senate casts doubt on proposed changes to lending laws

November 9, 2020

The Senate today supported a Greens motion condemning the government for abandoning the key recommendation of the Banking Royal Commission.

“The Senate has today cast doubt on whether the government has the numbers to tear up responsible lending obligations, which was one of its major budget announcements,” Greens Economic Justice spokesperson Senator Nick McKim said.

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RBA lodges a vote of no confidence

The RBA’s decision to cut interest rates to new historic lows and start a new round of quantitative easing is a vote of no confidence in the Government’s recovery plans, Greens Economic Justice spokesperson Nick McKim says.

“This decision shows the RBA has no faith in the Liberals’ agenda of tax cuts for the super wealthy and more handouts for the big corporate polluters,” Senator McKim said.

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