Greens spokesperson for Treasury, Senator Peter Whish-Wilson, says the Government has missed an opportunity to pursue substantial reform and raise significant revenue from its proposed superannuation package.

“Today the Government caved in on the substantial reforms needed to address the perversities in the superannuation system that allow the wealthy to use their superannuation as a tax haven. 

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.

The Greens say any change to Australia's tax system must be progressive, correcting rising inequality and acting on global warming.

"The whole point of tax is to raise the revenue we need to pay for the Australian society we want: caring, innovative, healthy, and protected from the impacts of global warming" said Greens Leader Christine Milne.

"That means ending taxpayer support of polluting fossil fuels; it means actually collecting the tax owed by corporate Australia and multi-nationals, and it means closing tax loopholes for the richest among us.

The Greens have announced a new policy to make superannuation more equitable and raise $10 billion over the forward estimates. ‘A super system for everyone' will replace the current flat superannuation tax rate of 15% with a progressive system that is closely based on a person's marginal income tax rate.

"Superannuation in Australia has become a tax haven for the wealthy. It should be a way of delivering a comfortable retirement for everyone," Greens Leader Christine Milne said.