Treasury

At a time when the gap between rich and poor is growing, the Australian Greens want to ensure we all get a fair share of Australia's prosperity. We have demonstrated our economic responsibility by supporting the Government in managing the global financial crisis, savings thousands of jobs and small businesses. We negotiated to improve the stimulus package including providing a $500m community jobs fund.

We strongly support a tax on the mining industry's super profits which if properly applied would generate revenue for the benefit of all Australians into the future. Along with many respected economists we support a sovereign wealth fund being established from the proceeds of the mining boom to help address the two speed economy affecting many business and jobs in non-mining industries such as tourism and manufacturing. 

The Australia Greens were instrumental in the most important economic reform in recent times, the Clean Energy Future package, which is a key step in transforming Australia's economy into a clean, zero carbon 21st century economy and seizing the opportunities of creating jobs and investment.

audio

Bob Brown on ABC Radio National with Fran Kelly

11 Jul 2011

Australian Greens Leader Senator Bob Brown spoke with Fran Kelly about the Multi-Party Climate Change Committee's plan for a Clean Energy Future for Australia.

Australian Greens Leader Senator Bob Brown spoke with Fran Kelly about the Multi-Party Climate Change Committee's plan for a Clean Energy Future for Australia.

news-stories

Carbon price agreement: historic first step towards a clean energy economy

10 Jul 2011

The Australian Greens, the Labor government and the Independent MPs today announced an historic agreement on a climate action package that will put a $23 per tonne price on carbon pollution, as was first proposed by the Greens, support householders and invest billions of dollars in clean, renewable energy. This package, which the Greens have helped shape, is the first vital step towards tackling the climate crisis and building a cleaner, healthier, more secure Australia for all of us. Major steps forward on emissions reduction targets, support for renewable energy, energy efficiency and landscape carbon, closing coal-fired power plants, limiting the use of international offsets and a floor price mean that pollution cuts that were pushed into the distant future under the government's original plans will now be pulled forward into the next few years. While a climate action package designed by the Greens would have been more ambitious straight away, what we have achieved is a firm foundation for the future. Where the Rudd government's Carbon Pollution Reduction Scheme acted as a ceiling on action, constraining our efforts for decades to come, this carbon price package acts as a platform on which stronger action can be built in the years ahead.

media-releases

Historic agreement will cut carbon pollution

10 Jul 2011

The Australian Greens, the Labor government and the Independent MPs today announced an historic agreement on a climate action package that will put a $23 per tonne price on carbon pollution, as was first proposed by the Greens in January 2010, support householders and invest billions of dollars in clean, renewable energy."This outcome is a tribute to quite remarkable negotiation by the Prime Minister, Minister Combet and the Government team. It also comes from a very constructive commitment to both their electorates and the nation from Independents Tony Windsor and Rob Oakeshott," Australian Greens Leader, Senator Bob Brown, said."Leading our team I pay special tribute to Christine Milne whose knowledge and insight into climate change policy options worldwide have been central to this historic outcome. The member for Melbourne Adam Bandt has also contributed with his wide grasp of knowledge about this complex challenge for the nation."Australian Greens Deputy Leader, Senator Christine Milne, said "this historic agreement delivers the biggest investments in renewable energy and biodiversity Australia has ever seen, the planned closure of coal fired power plants, a big boost to global climate negotiations and much more, and the Greens will keep working for stronger action.

The Australian Greens, the Labor government and the Independent MPs today announced an historic agreement on a climate action package that will put a $23 per tonne price on carbon pollution, as was first proposed by the Greens in January 2010, support householders and invest billions of dollars in clean, renewable energy.

"This outcome is a tribute to quite remarkable negotiation by the Prime Minister, Minister Combet and the Government team. It also comes from a very constructive commitment to both their electorates and the nation from Independents Tony Windsor and Rob Oakeshott," Australian Greens Leader, Senator Bob Brown, said.

"Leading our team I pay special tribute to Christine Milne whose knowledge and insight into climate change policy options worldwide have been central to this historic outcome. The member for Melbourne Adam Bandt has also contributed with his wide grasp of knowledge about this complex challenge for the nation."

Australian Greens Deputy Leader, Senator Christine Milne, said "this historic agreement delivers the biggest investments in renewable energy and biodiversity Australia has ever seen, the planned closure of coal fired power plants, a big boost to global climate negotiations and much more, and the Greens will keep working for stronger action.

media-releases

New poll shows Australians overwhelmingly back Gillard’s climate plan over Tony Abbott’s

09 Jul 2011

Australian Greens Leader Bob Brown released a new poll showing that when voters are presented with Tony Abbott’s plan or the Gillard/Greens/Independents plan, overwhelming numbers of voters favour the carbon price option.

Australian Greens Leader Bob Brown released a new poll showing that when voters are presented with Tony Abbott’s plan or the Gillard/Greens/Independents plan, overwhelming numbers of voters favour the carbon price option.

media-releases

Tasmania will be winners - Brown

08 Jul 2011

Tasmania will be winners in the clean energy package, Australian Greens Leader and Tasmanian Senator Bob Brown said in Canberra today. "The hard work over months of Christine Milne and I will bring real dividends, for example through household payments, to Tasmanians.

Tasmania will be winners in the clean energy package, Australian Greens Leader and Tasmanian Senator Bob Brown said in Canberra today.

"The hard work over months of Christine Milne and I will bring real dividends, for example through household payments, to Tasmanians.

audio

Bob Brown and Christine Milne press conference on fuel and the carbon price

03 Jul 2011

Bob Brown and Christine Milne press conference at Parliament House's Mural hall regarding fuel and the carbon price

Bob Brown and Christine Milne press conference at Parliament House's Mural hall regarding fuel and the carbon price

media-releases

Support moves to protect Australians’ assets - Brown

30 Jun 2011

Greens Leader Bob Brown today urged politicians of all stripes to engage in a mature debate about ownership of Australians' assets, including farm land and minerals wealth.
"The Australian Greens have one initial solution - the Foreign Acquisitions Amendment (Agricultural Land) Bill 2010 jointly sponsored by Christine Milne and Nick Xenophon - with all acquisitions by foreign interests to be subject to a proposed $5 million threshold," Senator Brown said in Hobart.
"The bill was introduced into the Senate on 24 November 2010 and was subject to a Senate Inquiry which reported on 16 June 2011."
"The bill provides legislation for a national interest test which includes factors such as national security, any impacts on competition and global industry or market outcomes, any impact on Australian tax revenues, any impact on the Australian economy or community, the character of the investor, and requires online publication of applications of interest in agricultural land."
"There would also be penalties for when a foreign person acquired agricultural land without notifying the Treasurer."
 
 

Greens Leader Bob Brown today urged politicians of all stripes to engage in a mature debate about ownership of Australians' assets, including farm land and minerals wealth.


"The Australian Greens have one initial solution - the Foreign Acquisitions Amendment (Agricultural Land) Bill 2010 jointly sponsored by Christine Milne and Nick Xenophon - with all acquisitions by foreign interests to be subject to a proposed $5 million threshold," Senator Brown said in Hobart.


"The bill was introduced into the Senate on 24 November 2010 and was subject to a Senate Inquiry which reported on 16 June 2011."


"The bill provides legislation for a national interest test which includes factors such as national security, any impacts on competition and global industry or market outcomes, any impact on Australian tax revenues, any impact on the Australian economy or community, the character of the investor, and requires online publication of applications of interest in agricultural land."


"There would also be penalties for when a foreign person acquired agricultural land without notifying the Treasurer."


 


 

media-releases

Australia’s foreign-owned mining industry to ship $50b in dividends offshore

29 Jun 2011

Some $50 billion reaped from Australia's mineral resources will be sent overseas as dividends to foreign owners over the next five years, according to a report released by Australian Greens Leader Bob Brown during his press club address today.Key findings of the report Foreign ownership of Australian mining profits are:*In the next five years foreign owners will earn about $265 billion from their investments in Australia's mineral resources;*Increasing foreign ownership is creating a significant drag on Australia's current account balance;*Over the last few years, Australia's net income balance has broken below its long-term floor of -3% and is forecast to deteriorate to -6% by 2013, worsening Australia's current account deficit in years ahead;*BHP Billiton's profit margin has almost doubled in the past eight years, from 25% in 2002 to 45% in 2010. BHP's profit margin on iron ore is 62%;*For every dollar of sales, mining companies make an after-tax profit of 26% versus the average across all industries of 8%;*Employment costs (including all contractor expenses) are lower in mining at 12% than the average across industries at 17%;*Net profit margins for copper and gold are 23% and 27% respectively, and yet they have been excluding from the government's mining tax; and,*Australia's 83% foreign-owned mining industry will ship $50 billion in dividends offshore over the next five years."Amid a mining boom, while the federal government faces budget pressures and as the Reserve Bank of Australia prepares to raise interest rates, parts of the economy are wallowing," Senator Brown said.The report, which shows Australian mining companies are 83% foreign owned, underscores the need for the Government to reconsider the Mineral Resource Rent Tax and the tax cut planned for big business. Senator Brown will again move to expand the MRRT, oppose the company tax cut for big business, and push to set up a sovereign wealth fund."The mining boom is creating massive problems for other parts of the Australian economy. If the country's minerals wealth is not properly managed, many Australians will actually be worse off and Australia's prosperity will be put at risk.""Treasury's mining super profits tax would have preserved about 20% of forecast foreign profits for Australians. The government should have adopted the Greens' proposal for a sovereign wealth fund to store this wealth for the needs of future generations," Senator Brown said."Instead, under Labor's feeble mining tax and the Coalition's even more irresponsible prescription to let the foreign mining giants off the hook, Australians will be left in future cribbing on health, education and funding for key infrastructure such as high speed rail."

Some $50 billion reaped from Australia's mineral resources will be sent overseas as dividends to foreign owners over the next five years, according to a report released by Australian Greens Leader Bob Brown during his press club address today.
Key findings of the report Foreign ownership of Australian mining profits are:
*In the next five years foreign owners will earn about $265 billion from their investments in Australia's mineral resources;
*Increasing foreign ownership is creating a significant drag on Australia's current account balance;
*Over the last few years, Australia's net income balance has broken below its long-term floor of -3% and is forecast to deteriorate to -6% by 2013, worsening Australia's current account deficit in years ahead;
*BHP Billiton's profit margin has almost doubled in the past eight years, from 25% in 2002 to 45% in 2010. BHP's profit margin on iron ore is 62%;
*For every dollar of sales, mining companies make an after-tax profit of 26% versus the average across all industries of 8%;
*Employment costs (including all contractor expenses) are lower in mining at 12% than the average across industries at 17%;
*Net profit margins for copper and gold are 23% and 27% respectively, and yet they have been excluding from the government's mining tax; and,
*Australia's 83% foreign-owned mining industry will ship $50 billion in dividends offshore over the next five years.
"Amid a mining boom, while the federal government faces budget pressures and as the Reserve Bank of Australia prepares to raise interest rates, parts of the economy are wallowing," Senator Brown said.
The report, which shows Australian mining companies are 83% foreign owned, underscores the need for the Government to reconsider the Mineral Resource Rent Tax and the tax cut planned for big business. Senator Brown will again move to expand the MRRT, oppose the company tax cut for big business, and push to set up a sovereign wealth fund.
"The mining boom is creating massive problems for other parts of the Australian economy. If the country's minerals wealth is not properly managed, many Australians will actually be worse off and Australia's prosperity will be put at risk."
"Treasury's mining super profits tax would have preserved about 20% of forecast foreign profits for Australians. The government should have adopted the Greens' proposal for a sovereign wealth fund to store this wealth for the needs of future generations," Senator Brown said.
"Instead, under Labor's feeble mining tax and the Coalition's even more irresponsible prescription to let the foreign mining giants off the hook, Australians will be left in future cribbing on health, education and funding for key infrastructure such as high speed rail."

media-releases

Brown says Abbott is unwise to consort with Monckton

23 Jun 2011

Opposition Leader Tony Abbott should rethink plans to associate with Lord Monckton, Greens Leader Bob Brown said today.
"Monckton's despicable abuse of Professor Ross Garnaut can't simply be shaken off and accommodated as free speech," Senator Brown said in Canberra.
"Last year, Mr Abbott met Viscount Monckton of Brenchley and he will renew that association next week at a mining conference in Perth. I urge Mr Abbott to think again," Senator Brown said.
"Monckton's speech to the conference, entitled ‘How many beans make five? Math lessons for climate-crazed lawmakers' makes a mockery of Mr Abbott's own commitment to emissions reduction targets and professed ‘direct action' plan," Senator Brown said.
"The mining industry should ensure Monckton apologises to Professor Garnaut before their sponsorship proceeds," Senator Brown said.
 

Opposition Leader Tony Abbott should rethink plans to associate with Lord Monckton, Greens Leader Bob Brown said today.


"Monckton's despicable abuse of Professor Ross Garnaut can't simply be shaken off and accommodated as free speech," Senator Brown said in Canberra.


"Last year, Mr Abbott met Viscount Monckton of Brenchley and he will renew that association next week at a mining conference in Perth. I urge Mr Abbott to think again," Senator Brown said.


"Monckton's speech to the conference, entitled ‘How many beans make five? Math lessons for climate-crazed lawmakers' makes a mockery of Mr Abbott's own commitment to emissions reduction targets and professed ‘direct action' plan," Senator Brown said.


"The mining industry should ensure Monckton apologises to Professor Garnaut before their sponsorship proceeds," Senator Brown said.


 

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