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Tax Cuts for Millionaires

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Greens call on Liberal and Labor to ditch stage 3 tax cuts entirely

Responding to reports that Stage 3 of the government’s tax cuts, voted into law by Liberal and Labor, may not be fully repealed after the next election, Greens Leader, Adam Bandt, has called on Labor to join the Greens in taking on the government by ending the speculation and confusion around their position on the most radical, regressive tax proposal in Australian history.

“These tax cuts, whether you take the stages separately or as a whole, are a radical ideological flattening of our revenue base,” Bandt said.

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Liberal & Labor put millionaires before the million unemployed with deal to pass tax cuts

Leader of the Australian Greens Adam Bandt & Economic Justice Spokesperson Nick McKim have today slammed a deal between the Labor and Liberal parties to ram through tens of billions of dollars in tax cuts and corporate welfare.

Liberal & Labor also opposed Greens amendments that would have excluded millionaires from the tax cuts, and ensured goods purchased with company tax credits were made in Australia.

“Liberal and Labor have put the millionaires ahead of the million unemployed,” said Mr Bandt.

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Costings show bringing forward tax cuts would cost an extra $28 billion

The Australian Greens have released costings from the Parliamentary Budget Office on the cost of bringing forward income tax cuts.

The costings of four scenarios show that the cuts would cost up $28 billion, in addition to baking in an ongoing budget burden of tens of billions every year.

“In the middle of a recession, public money should be spent on job-creating public investment, not on fast-tracking tax cuts for millionaires,” said Greens Leader, Adam Bandt.

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