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Government fails to take heed of financial victims woes on FoFA reforms

The Greens spokesperson for Small Business, Competition Policy and Consumer Affairs, Senator Peter Whish-Wilson today asked the government in Senate Question Time whether they had considered the plight of the hundreds of victims of the Timbercorp collapse when drafting their FoFA reforms.

ANZ and liquidators are today calling in the debts of mum and dad investors who were sold dodgy Managed Investment Scheme products from Timbercorp. These investments were risky and complex and were pushed by some financial planners seeking commissions.

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Liberal Senators ignore concerns of Consumer and Seniors groups on FoFA reforms

Greens spokesperson for Consumer Affairs and Small Business, Senator Whish-Wilson, says the Liberal Senators Inquiry report on the Future of Financial Advice (FoFA) Bill have sided with the big banks over consumers and seniors.

Senator Whish-Wilson said, “From the very beginning the Liberal Government has been looking to deliver for its donors in the banking sector by unwinding consumer protections in the field of financial advice.

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Plan B Needed On Medical Research Fund: Bandt

Deputy Greens Leader and Science & Research spokesperson, Adam Bandt MP, today said that Simon McKeon was right to implicitly criticise Tony Abbott’s deep funding cuts to research and to call for an alternative means of establishing a medical research fund in his speech to the National Press Club today.

“Tony Abbott needs to accept he will not get his GP co-payment through the Senate, so he should separate the medical research fund from his GP fee," said Mr Bandt.

"As Simon McKeon said, it would be tragic if funding for medical research wasn't boosted.

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Greens reject Abbott research cuts and spin

Greens Deputy Leader Adam Bandt says the Greens will fight cuts to science and research in the Budget. Mr Bandt also said the Greens would fight any attempt by Tony Abbott to blackmail the Parliament with false claims about a multi-billion medical research fund and that of the proposed $7 GP fee, only 17c would go to medical research.

"Half a billion dollars in cuts to CSIRO and other research programs will hurt the economy," Mr Bandt said today.

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Urgent need for mandatory supermarket Code of Conduct

Senator Peter Whish-Wilson, Greens spokesperson for Competition Policy, Small Business and Consumer Affairs responds to the ACCC pursuing claims that Coles has been illegally squeezing some of its suppliers to help keep its prices down while maintaining its profits.

Senator Whish-Wilson says “These claims reinforce the need for a mandatory Code of Conduct for supermarkets to prevent them riding roughshod over their suppliers.

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Greens will fight Abbott cuts to CSIRO

Greens Deputy Leader and Science spokesperson Adam Bandt MP today said that Tony Abbott is a threat to Australia’s prosperity. 

“If Tony Abbott’s Commission of Audit is a front for cuts to CSIRO’s budget of 15-20%, as CSIRO believes, Australia’s prosperity will suffer,” said Mr Bandt. 

“Australia depends on research and research depends on secure, long-term funding. 

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Pyne needs to Keep It Clever

Greens Deputy Leader and Science & Research spokesperson Adam Bandt MP and Higher Education spokesperson Senator Lee Rhiannon, today said the Education Minister, Christopher Pyne, needs to Keep It Clever. 

“Mr Pyne appears to be suffering a case of cognitive dissonance,” said Mr Bandt. 

“He is talking up our universities and says that he backs the Universities Australia ‘Keep It Clever’ campaign but at the same time the Abbott Government is lining up higher education and research for funding cuts.

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