Viewing articles in Portfolio:

Treasury

Filter Articles

Debate on the Omnicuts Bill

I think it is really important to understand what is going on here. What is going on here is that we have a piece of legislation that is going to result in a saving of $6 billion; it is an incredibly complex piece of legislation. For the benefit of the new senators, who have not even had the opportunity to look at this legislation in detail, the legislation involves the abolition of Medicare-funded dental care for young children—something that was negotiated as a result of the 2010 parliament.

Read more

Opening of the 45th Parliament

I begin by acknowledging the traditional owners of the land that we are meeting on, the Ngunawal people, and I want to pay my respects to their elders past and present. I want to acknowledge that their land was stolen and never ceded, and I look forward to a respectful dialogue in the 45th Parliament to achieve a just settlement with Aboriginal and Torres Strait Islander peoples in this country.

Our Constitution says:

… the Senate shall have equal power with the House of Representatives in respect of all proposed laws.

Read more

New costings show company tax cut even more expensive: Greens

New costings from the independent Parliamentary Budget Office show the Budget would be $51b better off it the government’s big business tax cuts were blocked, suggesting the measure will cost more than the $48b estimated by the government, said Greens Treasury spokesperson, Adam Bandt.

“This report delivers the death blow to any argument that big business tax cuts are affordable,” said Mr Bandt.

Read more

Greens’ super plan would save $11 billion while boosting retirement income of low earners

Adam Bandt 1 Jun 2016

Greens’ Treasury spokesperson Adam Bandt today announced that the Greens would save $11bn over the next four years by reining in unfair and unsustainable superannuation tax concessions, while supporting low income earners to save for their retirement.

“Unfair tax breaks for superannuation are becoming unsustainable and fair reform is needed,” said Mr Bandt.

“People deserve a tax break when they contribute to their superannuation, but by making the tax breaks less generous for higher income earners we can save $11bn to fund schools and hospitals.”

Read more

PEFO confirms need for more active fiscal policy: Greens

Greens Treasury spokesperson Adam Bandt MP today said the Pre-election Economic and Fiscal Outlook released today confirms there are bleak economic conditions ahead if the government continues with its fiscal policy. Mr Bandt said the time is ripe for governments to take advantage of low interest rates and responsibly increase borrowing to fund productive infrastructure, including clean, renewable energy projects. Mr Bandt added that the lowest wages growth in at least 18 years reported since the Budget confirms that now is not the time for unaffordable and unfair income tax cuts.

Read more