Green Economics, Helping Small Business and Tax Reform

Green Economics, Helping Small Business and Tax Reform

Green Economics

Helping Small Business and Tax Reform

Work:

Pete currently holds the Treasury & Finance portfolios. He has worked for years highlighting why debt is not a dirty word, and why we need more infrastructure spending to secure a better future for workers and our communities. He has provided a model for a government-owned infrastructure bank to finance a Green New Deal.

He has worked for years with Christine Milne and Adam Bandt promoting tax reform and passing legislation cracking down on multinational tax avoidance. He has been a fierce advocate against austerity, dangerous deregulation and zombie budget cuts to the most vulnerable Australians.

Pete has also worked over many years with the Nationals and others to bring in revolutionary new competition laws that better protect small businesses from big businesses as well as promoting tax cuts for small business.

Wins:

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Helped establish a Senate inquiry into multinational tax avoidance.
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Led the fight in the Senate to pass the Multinational Anti-Avoidance Laws (MAAL) and improved scrutiny of the tax affairs of big businesses and wealthy Australians.
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Successfully campaigned to get a new  ‘effects test’ competition law passed through parliament.
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Small business tax cuts legislated in 2014.

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Fairer small business contract terms legislated.

Green New Deal

Green New Deal

Green New Deal

Ecological sustainability requires economic viability. Let’s take communities with us to a green new future.

An Environmental, Social, Economic Crisis.

Australia is facing an environmental, social and economic crisis. We are in a climate emergency. Yet our government continues to expand rather than phase out fossil fuels. To make matters worse, too many of us are not getting a fair go. Underemployment, job insecurity and low pay are rife. And we’re all paying through the nose for housing because the government has rigged the market.

It doesn’t have to be this way. We need a Green New Deal to tackle social and economic inequality, while taking the action scientists say is necessary to beat the climate crisis.

What is it?

A Green New Deal is a government-led plan of investment and action to build a clean economy and a caring society. Under a Green New Deal, government takes the lead in creating new jobs and industries, and delivering universal services to ensure nobody is left behind. A Green New Deal is a massive opportunity to solve the climate crisis and to ensure everyone has a good life.  

It feels big, and it is. But it’s possible. We have everything we need to make the transition and create a fairer, cleaner future. But we need people like you with us. This isn’t just a Green New Deal for Australia. It’s yours too. Over the next few months, we’re running sessions all over the country to hear what you think needs to be included in a Green New Deal. 

So what do you say, are you ready to add your voice to a Green New Deal?

Infrastructure Investment

Infrastructure Investment

Infrastructure Investment

Having stronger infrastructure supports a better society. By increasing infrastructure investment we can provide better hospitals, schools, roads, rail, clean energy and a better environment.

A Core Business Of Government

Public infrastructure is a core business of government. Roads and rail, electricity and sewerage, hospitals and schools: services paid for by the public, for the public.

Through the ages, infrastructure has been funded by government borrowing and the cost spread over time. But neoliberals have waged a war on this model, being obsessed with surpluses and privatising assets.

Extensive inquiry into funding of public infrastructure

Pete chaired an extensive inquiry into the provision and funding of public infrastructure that heard from a range of experts across the spectrum.

The unanimous conclusion was that more government investment in government owned infrastructure is needed, particularly in the face of the climate emergency and the urgent need to transition to a clean energy economy.

Wins:

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Debt funding for public infrastructure is now widely accepted as a good thing and is a central plank of a Green New Deal.

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Federal budgets now provide more detail on infrastructure spending and public debt.

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Initiated a Senate inquiry into the infrastructure needs of Australia’s regional capitals. The inquiry held hearings in Geelong, Launceston, Geraldton and South Townsville.

Wants:

A massive increase in public spending to fund the transition to a clean energy economy.

Taxation that better captures the private benefit of public expenditure, starting with a switch from stamp duty to land tax.

Infrastructure Supports A Better Society

By providing better infrastructure we support a more equitable society improving health, connectivity, reducing power bills and providing a cleaner environment.

Foreign Investment

Foreign Investment

Foreign Investment

Challenging the power of big multinational companies.

Advocating Greater Transparency & Accountability

Pete has been a strong advocate for greater transparency and accountability around foreign ownership and the signing of free trade deals. Along with former Greens leader, Christine Milne, he has consistently questioned the benefits of globalisation and highlighted the risks to our nation’s sovereignty of mega trade deals such as the Trans-Pacific Partnership agreement.

Pete has been an outspoken critic of the power that multinational corporations wield in the treaty-making process used to sign Australia up to secret trade deals, which often put the interests of corporations and political parties over people. He has used his experience of financial markets to scrutinise what is really going on with mega trade deals like the Trans-Pacific Partnership as well as foreign takeovers, and his campaigning has been noted globally.

Wins:

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Established the world’s first parliamentary inquiry into banning secret Investor-State Dispute Settlement (ISDS) clauses set up to allow multinational corporations to sue sovereign democratic governments if they don’t agree with new laws.

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Initiated a Senate inquiry into Australia’s outdated and dangerous treaty-making process used to secure free trade deals to the exclusion of democratically elected parliaments.

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Established a Senate inquiry to examine the Foreign Investment Review Board.
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Established a Senate inquiry to examine the foreign investment process in Australia.

Wants:

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Ensure that conditions agreed to by foreign buyers of Australian land and assets are met.

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Include reporting on the value of land in the register of foreign ownership.

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The trade and treaty-making process to be revised to give more power to parliaments and to remove secrecy.

i

End the carve-out for real estate agents, lawyers and accountants that exempts them from anti-money laundering laws. This exemption allows black money to corrupt investment markets, especially real estate.

Fix The Banks

Fix The Banks

Fix The Banks

The Royal Commission laid bare the problems with Australia’s banks, uncovering fraud, bribery, fee gouging and other misconduct. The cause was the pursuit of profit at the expense of the customer. Conflicts of interest within banks and soft touch regulators meant that it got out of control and left tens of thousands of Australians poorer as a result.

The Royal Commission

Pete led the charge to establish a Royal Commission to get to the bottom of the rot. Through Senate inquiries and persistent questioning of the government, he helped uncover the true extent of the problem. Along the way, Pete also led the policy development which resulted in the government adopting a number of Greens’ ideas.

View the timeline.

Wins:

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Participating member in various Senate inquiries into the Scrutiny of Financial Advice including into the catastrophic collapse of Managed Investment Schemes in Australia.

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A Royal Commission into the banks, the first of its kind since the 1930s.

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Worked with Adam Bandt and others for the introduction of a levy on the major banks.

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An overhaul of the consumer ombudsman to ensure government oversight of dispute mediation.

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Initiated the country’s first Senate inquiry into White Collar Crime.

Wants:

A government-owned ‘People’s Bank’ to provide basic low-cost products and services.

Break up the banks to separate banking from insurance, superannuation and financial advice.

Appoint the ACCC as the regulator of consumer banking.

inflation [Converted]