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Housing boom driving Australian inequality

The Australian Greens have commented on an OECD report warning of a ‘rout’ in Australian house prices.
 
Greens Treasury spokesperson, Senator Peter Whish-Wilson, said that the OECD report confirms that “the big-four banks are creaming it.”
 
“CBA, NAB, ANZ and Westpac are all profiting off a housing boom that threatens to undermine the entire economy. And they’re doing it all with the benefit of government guarantees that they don’t have to pay for. This is a scandal.
 
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Estimates: Foreign Affairs, Defence and Trade Legislation Committee (Asian Infrastructure Investment Bank)

Lee probes the representative from Foreign Affairs, Defence and Trade, Mr Fletcher, on the details of Australia's involvement with China in the Asian Infrastructure Investment Bank. 

Senator RHIANNON: I would like to move on to some questions about China. I understand that Australia is currently working with China on an antimalarial project in Papua New Guinea. Is Australia planning to work with China on other development projects in the Asia-Pacific region?

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Speech: Export Finance and Insurance Corporation Amendment (Direct Lending and Other Measures) Bill 2014

Senator RHIANNON (New South Wales) (09:43): The first part of the Export Finance and Insurance Corporation Amendment (Direct Lending and Other Measures) Bill 2014 does extend the mandate of Efic's activities from supporting the export of capital goods, to all goods. So we are really going from a situation where so many of Efic's loans went for large mining projects and the infrastructure that supported them, and other related projects, to really being about services, consumer goods and many aspects of what are called SMEs, small and medium sized enterprises.

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Speech: Mining tax repeal

Lee Rhiannon 17 Jul 2014

What a week! We have seen the government really deliver in spades, so to speak, to the mining industry. They are right out there, you would have to say—sycophantic, pandering. It is going to be tough, because, when you do not have such a revenue stream coming in, somebody has to pay. What we are seeing here is a very clear reason why the coalition has earnt its name as the party of the one per cent. The government is actually propping up a dying industry, particularly when it comes to the mining of coal and the use of coal.

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Second Reading Speech: Minerals Resource Rent Tax Repeal and Other Measures Bill 2013

Senator RHIANNON (New South Wales) (19:30): The Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 is a shameful piece of legislation. It is one of the clearest examples that we have seen from this government of robbing the poor to give to the rich. That is how you can sum up this legislation. There are many things that this legislation could be called.

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Greens call for construction-led south-east stimulus package

Victoria, South Australia & NSW need an economic stimulus package to create jobs and transition to a clean economy, Greens Deputy Leader and industry spokesperson, Adam Bandt, said today.

Mr Bandt today released ‘Saving south-east Australia', a fully-funded plan to build 77,500 new houses in south-eastern Australia, fast-track high-speed rail, provide tax relief to small business and manufacturing and boost research and innovation spending.

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Regional NSW hurt by budget cuts to Infrastructure Fund

Greens Senator for NSW Lee Rhiannon has criticised federal Labor for slashing the Regional Infrastructure Fund by a massive $2 billion over the next seven years, saying it will frustrate much needed public transport and other critical infrastructure projects for NSW.

"Only $2.4 billion over nine years is left for improvements to regional infrastructure because Labor has failed to fix the mining tax. The government has baulked at taking on mining companies and abolishing fossil fuel subsidies, making regional NSW the bunny," Senator Rhiannon said.

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Rinehart comments a bit rich

Blog by Senator Lee Rhiannon

Gina Rinehart’s utterances are often a reminder that wealth too often goes hand in hand with arrogance and greed.

Writing in her regular column in Australian Resources and Investment magazine Australia’s wealthiest person said that people who are jealous of the rich should start working harder and cut down on drinking, socialising and smoking.

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