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Australian Greens flag concern on ASX merger

The Australian Greens will be scrutinising closely the proposed merger of the Australian Stock Exchange and the Singapore Exchange.

Australian Greens Leader Senator Bob Brown said he had concerns about potential negative impacts from a foreign buy out of the Australian Stock Exchange.

Senator Brown said Parliamentarians need to be sure that the benefits of the ASX becoming a foreign owned international exchange needed to be clearly proven.

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Greens legislation to control mortgage hikes already in Parliament


Australian Greens Leader Bob Brown called on all parties to support Greens legislation already before both Houses of Parliament that would control unfair mortgage increases.

"My banking bill is already in the Senate and Adam Bandt MP yesterday gave notice of his intention to introduce it into the House of Representatives," said Senator Brown.

"The bill not only protects customers from unfair mortgage hikes but would also ban set $2 bank ATM fees and ensure all banks offered basic fee-free accounts.

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Fairer Banking

Banking is an essential service. A basic bank account is essential to function properly in present day Australian society. This means that the nature of banking services – the kinds of financial products that are offered and the fees that are charged – has a very broad impact.

Consequently, the welfare of consumers should be protected by law and not, as is currently the case, by the self-regulation of the banking industry.

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Banks must be reined in: Brown

Australian Greens Leader Bob Brown said that the record $6.1 billion profit posted by the Commonwealth Bank yesterday showed that better regulations were needed for the banking sector.

"The average Australian pays around $1000 in bank fees every year," said Senator Brown.

"That is too much.

"The Greens Fairer Banking Bill outlines a range of measures to protect consumers from excessive profiteering by the big banks.

"To start with, we would ban $2 bank ATM fees, which penalise poorer people the most.

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Senator Bob Brown's address to the National Press Club - July 2010

At this National Press Club I acknowledge the traditional owners of the Canberra region and all the Indigenous people of our nation.

This year will be another milestone in politics for the Australian Greens. The sole balance of power in the Senate and a breakthrough into the House of Representatives are both within reach. Australia's voters are looking for more progressive politics and the stable, experienced leadership which we alone have produced over the past three turbulent years in Canberra.

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Rudd should not back down on resource tax: Brown

The Rudd Government should not back down to mining industry and billionaires' bluster over a resource rent tax on profits said Australian Greens Leader Bob Brown today.

"This opposition is coming from some of the richest people in Australia, protesting that they will make slightly less profit," said Senator Brown.

"Australia's resources belong to all Australians and mining royalty returns have not kept pace with the enormous profit companies have made during the resource boom.

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