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PM Turnbull’s economic challenge: tackle inequality, global warming

Media Release
Adam Bandt 17 Sep 2015

The Australian Greens have challenged new Prime Minister Malcolm Turnbull to dump the "nope, nope, nope" attitude of his predecessor when it comes to economic reforms that would reduce wealth inequality and face up to the reality of global warming.

"You can't have a serious economic plan if you've got Tony Abbott's climate policy leading into this election, and that's where Malcolm Turnbull is right now," said Greens Leader Richard Di Natale.

"Industries like the mining industry and coal specifically have been a part of the Australian story and our current prosperity, but they aren't the pathway of prosperity into the future.

"We've got to start taking advantage of the enormous opportunities that exist in a modern 21st Century economy.

"If Malcolm Turnbull is prepared to look at the issue of ending the free ride for those who can most afford to pay, then he has the opportunity to find a pathway to achieve that with the Greens," Senator Di Natale said.

"We've costed policies so we know how much revenue could be raised by ending superannuation tax breaks for the very wealthy, ending tax-free fuel for hugely profitable mining companies, ending the practice of negative gearing and removing the capital gains tax exception.

"If Malcolm Turnbull is prepared to work with the Greens to tackle those big economic challenges and get positive outcomes for the community, well, our door is open and we are a party that is willing to talk to tackle those big economic questions," Senator Di Natale said.

Greens Treasury spokesperson, Member for Melbourne Adam Bandt said:

"Just by looking at areas like negative gearing, capital gains tax, superannuation and fossil fuel subsidies, the Greens have identified close to $40 billion worth of revenue there for the taking.

"$38 billion worth of low-hanging fruit is $38 billion worth of cuts that don't have to be made to schools and hospitals.

"Since coming to government the Liberals have been very prepared to talk about raising the GST and making everyday Australians pay more tax, but just as quick to rule out asking the very wealthy to forgo some of their unfair tax breaks.

"Malcolm Turnbull's got the opportunity to press the reset button and take back some of those silly decisions that were made by the Abbott government to rule some savings measures out.

"The Greens are putting about $38 billion worth of savings measures on the table, just by getting rid of unfair tax breaks, and I hope the Turnbull government will seize that opportunity with both hands," Mr Bandt concluded.


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