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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.”

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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.

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The Australian Greens Budget-in-Reply Speech

This budget, Malcolm Turnbull and Scott Morrison's first, is a massive let-down for the people of Australia. Just as they have been let down by Malcolm Turnbull as Prime Minister, the people of Australia have been let down by this budget. It is a budget that does not properly address the fact that we have a revenue problem.

It is a problem that was brought to us by John Howard and Peter Costello when they wasted the rivers of gold from the resources boom through round, after round, after round of tax cuts.

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Budget a ‘house of cards’; super measures underwhelming

Adam Bandt 4 May 2016

Greens Treasury spokesperson Adam Bandt MP today said the government’s so-called new ‘Low Income Superannuation Tax Offset’ (LISTO) is really just another case of the government reviving a measure it had previously sent to the grave. The Liberal government passed legislation that from next year will see the ‘Low Income Super Contribution’ program cut, a program that operates in a similar way as their proposed LISTO scheme, from next year.

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Budget, like Turnbull, a massive let-down: Greens

Adam Bandt 3 May 2016

"This Budget is a massive let-down, just like Malcolm Turnbull has turned out to be," said Australian Greens Leader Richard Di Natale.

"The government is pretending it can afford unsustainable and unfair tax cuts for the big end of town by claiming fanciful levels of economic growth.

"While champagne will be flowing in board rooms across the country, these irresponsible cuts come at the expense of long-term funding for schools, hospitals and public services.

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Liberals set to deliver ‘Budget for the billionaires’

Adam Bandt 2 May 2016

The Australian Greens say the Liberals are set to deliver a Budget that will grow inequality by
including company tax cuts and income tax cuts for above average income earners.

"This Budget, like this Prime Minister, is shaping up to be a huge disappointment," said Greens Leader Richard Di Natale.

"Malcolm Turnbull came in and said everything was on the table, but now he and his Treasurer are serving up the same tired old dishes as Tony Abbott.

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Greens release economic principles for upcoming Budget and election

Greens Treasury spokesperson Adam Bandt MP and Finance spokesperson Senator Peter Whish-Wilson today released the party’s Budget Principles for the 2016 Budget and Federal Election.

“To make society more equal, we need more tax, starting at the top,” Greens Treasury spokesperson Mr Bandt said.

“We'd rather have an Australia where everyone gets great public education and healthcare, which means being upfront about growing our revenue base by getting rid of unfair tax breaks and asking the very wealthy to pay more.”

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Labor must end the tax cuts arms race: Greens

Adam Bandt 23 Apr 2016

In response to reports today the government will cut company and income taxes in the upcoming Budget, Greens Treasury spokesperson Adam Bandt MP called on Labor to rule out cutting taxes in the upcoming Budget and election.

"Now is not the time for tax cuts. We are facing a revenue crisis in this country. Our schools, hospitals and infrastructure are under pressure and in desperate need of investment," Mr Bandt said.

"The Greens will not support tax cuts in the upcoming Budget or the election."

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Greens push Labor to keep deficit levy

Adam Bandt 21 Apr 2016

Greens Treasury spokesperson Adam Bandt MP today said the Greens have forced Labor to consider making the deficit levy permanent and called on both Labor and the government to commit to making the deficit levy permanent, as well as establishing a millionaire’s tax.

“For a while now, the Greens have been calling to make the deficit levy permanent, and now finally Labor is on board,” Mr Bandt said.

“I welcome Bill Shorten confirming that Labor will consider making the deficit levy permanent.”

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Cautious welcome as government adopts Greens super plan: Bandt

Adam Bandt 20 Apr 2016

In response to reports the government is set to lower superannuation tax concessions for people earning over $180,000, Greens Treasury spokesperson Adam Bandt MP cautiously welcomed the government moving to adopt parts of the Greens' superannuation policy but said the party was not ready to commit to passing the government's plan in the Senate without knowing more.

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