Economy

Bandt welcomes high speed broadband for Melbourne

Media Release | Spokesperson Adam Bandt MP
Wednesday 19th October 2011, 10:54am

Greens MP Adam Bandt has welcomed the decision to make Melbourne one of the next places for the roll out of high speed broadband.


NBN Co has released its 12-month construction outlook. The schedule lists the communities in each state and territory where work will begin between now and September 2012.


Further details on the specific sites in the electorate will be released in July next year.


"Super fast broadband will unlock opportunities for innovation and collaboration that will boost Melbourne's and Australia's economy", Mr Bandt said today.


"I am proud of the Australian Greens' support for high speed broadband, which would be ‘demolished' if Tony Abbott had his way."


"I am pleased my electorate of Melbourne will host one of the next sites for the National Broadband Network rollout."


"Access Economics recently reported that the internet contributed $50 billion to the Australian economy in 2010, an annual figure that will increase to $70 billion over the next five years."


"People in my electorate love the internet and super-fast broad band will make a big difference to their work, study and leisure."


 

Abbott increasingly desperate as Coalition takes wrecking ball to investment, jobs

Media Release | Spokesperson Christine Milne
Tuesday 18th October 2011, 3:50pm

Tony Abbott's determination to make his great big new lie stick has extended to an attack on investor confidence and certainty that threatens Australia's renewable energy industry, generation infrastructure, Australian jobs and the price paid by everyday Australians for their energy needs, Deputy Greens Leader Christine Milne said today.


"Mr Abbott is increasingly desperate. He knows that he can't, and won't, repeal the carbon package legislation as his economically irresponsible political gamble would be devastating to Australian industry and Australian jobs," Senator Milne said in Canberra.


"But he also knows that his leadership and bid for The Lodge depends upon it.


"Mr Abbott is so keen to get into The Lodge that he is prepared to say and do anything to junk investment in energy generation and send householders' power bills sky-high while he is in Opposition, knowing full well that he will not abolish the scheme if he ever got into government.


"Certainty is essential for investment in desperately needed energy infrastructure but it is clear that Mr Abbott wants a capital strike.


"Mr Hockey and Mr Robb, acting as if they are part of a government-in-waiting although an election is two years away, say the Coalition would abolish the $10 billion Clean Energy Finance Corporation.


"Far from being a slush fund the clean energy fund is a statutory authority designed to prevent political fingers undermining its effectiveness. It is a cornerstone of the economy's transition to a clean energy future," Senator Milne said.


"The Coalition is directly attacking expansion of renewable energy which the community wants to support and wants people to believe that it has an alternative climate change policy.


"Wrong. They have no policy, they have a white paper process.


"Whilst Mr Abbott said (on 14/10/2011), 'an incoming Coalition government's first instruction to the public service would be to prepare legislation to rescind the tax. It would be our first order of parliamentary business'," Senator Milne said.


"But yesterday his climate change spokesperson explained (AFR, 17/10/2011) that the Coalition might not be so hasty, proposing a white paper process."


"Today Hockey said, 'one of the things we will be repealing' which begs the question, which ones will you not be?"


"Perhaps the Coalition is realising the absurdity of backing a 'direct action plan' that would cost the taxpayer more than $100 billion. Perhaps they are weighing it up against the package the Greens agreed with the Government that will make big polluters pay, assist householders and provide for the future energy options on which so much of the rest of business depends," Senator Milne said.


 

Christine Milne, press conference, 18-10-2011

Greencast | Spokesperson Christine Milne
Tuesday 18th October 2011, 3:33pm

Deputy Greens Leader Senator Christine Milne spoke to journalists in Canberra today about Tony Abbott's increasingly desperate attack on investment and investor certainty, which is threatening the renewable energy industry, generation infrastructure, jobs and the price paid by everyday Australians for energy needs.

Other topics covered included the Commonwealth Ombudsman and next week's CHOGM.

 

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Rising inequality strengthens case for stronger mining tax: Brown

Media Release | Spokesperson Bob Brown
Friday 14th October 2011, 3:00pm

New figures released today show an alarming trend of rising wealth inequality as the benefits of the mining boom become increasingly concentrated among a small group of people, Australian Greens Leader Bob Brown said today.


"The 20th century trend towards greater equality of incomes in Australia is being turned on its head, helped by very generous taxation arrangements which ensure that little can be set aside for the opportunities of the 21st century for the broader community," Senator Brown said.


"Today's figures from the Australian Bureau of Statistics provide further evidence for an effective mining tax, as recommended by the Treasury, and a sovereign wealth fund to provide funding for national dental care, high-speed rail and clean energy technology for future generations," Senator Brown said.


"The poorest fifth in the community have only 1 percent of household wealth, while the richest fifth have 62 percent."


 

Bandt to oppose covered bonds bill

Media Release | Spokesperson Adam Bandt MP
Wednesday 12th October 2011, 4:57pm

Greens' banking spokesperson, Adam Bandt MP, says the government’s covered bonds bill will shift risk on to Australian depositors and the public purse.


 


Mr Bandt says the Banking Amendment (Covered Bonds) Bill, due to be voted on in Parliament today, will also benefit the big four banks at the expense of smaller financial institutions and that Australian Greens will oppose the bill.


 


“Australian depositors are currently at the top of the list if a bank goes under and claims are made on bank assets. This bill will knock depositors off the top," Mr Bandt said.


 


"Covered bonds will effectively shift risk from the large banks to the public purse and uninsured depositors.”


 


"Australian depositors are expected to feel secure about covered bonds because of the Government's Financial Claims Scheme. But this is simply asking the taxpayer to carry a risk currently borne by the banks. And when the scheme’s level is lowered to $250,000 next year the risks for some depositors will grow.”


 


Covered bonds are instruments issued by banks to bondholders and secured by high quality assets. Part of their attractiveness to bondholders is that they will outrank depositors in any claim on bank assets. This is a fundamental change to Australian banking laws as currently depositors have the highest claim on assets.


 

A new Green economic future

Greens TV | Spokesperson Bob Brown
Wednesday 12th October 2011, 11:43am

The gap between Australia’s rich and poor is growing and our long-term prosperity is being undermined.

Add your name to the campaign for a new green economic future.

Today Melbourne delivered

Blog Post | Blog of Adam Bandt MP
Wednesday 12th October 2011, 10:23am

Today I voted to pass the comprehensive Clean Energy plan through the House of Representatives – and together we have delivered on our commitment for climate action.

This legislation will help build a strong clean economy, drive investment in renewable energy and create thousands of new jobs.

Without the voters of Melbourne, we know that action on climate change would have been off the national agenda for years.

The bigger picture

Blog Post | Blog of Bob Brown
Tuesday 11th October 2011, 4:42pm

Australian Greens Leader Bob Brown made the following remarks during the Environmental and Social Taxes session of the Tax Forum, on 4 October 2011:

"The carbon pricing effort now is to reduce costs down the line, as Nicholas Stern has pointed out, 1 per cent diversion of GDP now to deal with carbon price is going to save our grandchildren five to 20 per cent diversion of their GDP to deal with the onrush of destruction of climate change, including the loss of the Great Barrier Reef, which is a six billion dollar annual business, in the lifetimes of some people in this room on current projections.

"That said, the issue of transport, we come to a huge fossil fuel rebate system which should be removed. This on various estimates is in the area of five to ten billion dollars per annum. Yet a fossil fuel rebate system which has perverse outcomes, it may lead through the deaths of cancer of 300 people in our bigger cities per annum and that's not factored in and it should be.

Brown welcomes IMF support for broader mining tax

Media Release | Spokesperson Bob Brown
Friday 7th October 2011, 3:55pm

Australian Greens Leader Bob Brown welcomed the International Monetary Fund's call today for the Government to consider expanding the watered-down mining tax.


"The economic recovery is uneven and options available to the Government include broadening the coverage of the minerals resource rent tax beyond coal and iron ore, as the IMF so clearly states," Senator Brown said.


"A broader mining tax with revenue directed into a sovereign wealth fund would enable long-term funding for clean energy, health care for an ageing population and key infrastructure including high-speed rail."


Senator Brown also welcomed the IMF's endorsement of Greens initiatives - carbon pricing and the Parliamentary Budget Office.


 

Local content rules must remain on taskforce agenda: Bandt

Media Release | Spokesperson Adam Bandt MP
Friday 7th October 2011, 10:37am

Greens MP and industry spokesperson Adam Bandt has welcomed the industry taskforce announced by the Prime Minister yesterday but has warned that local content rules must remain on its agenda.

"The task force is a step in the right direction but unless we have strong rules on local content, manufacturing will continue to be squeezed," Adam Bandt said today.

"It is unrealistic to expect that simply 'naming and shaming' global corporate giants will do the job. The government will need to do more."

"Many successful resource economies such as Canada and Brazil have local content rules that do not breach WTO guidelines. There is no reason why Australia can't do the same."

"The Greens will continue to push for local content rules to remain on the taskforce agenda."