[Greens-Media] Funds Guarantees should be subject to Senate Scrutiny: Brown

[Hollo, Tim (Sen C. Milne)]

Funds Guarantees should be subject to Senate Scrutiny: Brown

The Federal Government's plans to use regulations to place an
'insurance' payment on deposits of over $1million in financial
institutions would attract the scrutiny of the Senate, Australian Greens
Leader Senator Bob Brown predicted today.

Senator Brown said he was concerned that the Government was planning to
place the insurance fee via regulations, without using legislation. This
could prevent it being immediately and properly scrutinised by the
Senate.

"These are far-reaching and fundamental changes, involving hundreds of
millions of dollars, and proper scrutiny by the Senate is an important
check."

"The Greens will ensure that any attempt to side-step proper review of
these matters will be met with a request to the Senate for proper
scrutiny and debate," Senator Brown said.

Senator Brown said that the Opposition had only one speaker when the
deposit guarantee legislation was rushed through last Thursday.

Further information:  Russell Kelly 0438376082

Tim Hollo
Media Adviser
Senator Christine Milne
ph: (02) 6277 3588
mob: 0437 587 562

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