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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Responding to reports that Stage 3 of the government’s tax cuts, voted into law by Liberal and Labor, may not be fully repealed after the next election, Greens Leader, Adam Bandt, has called on Labor to join the Greens in taking on the government by ending the speculation and confusion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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Unions, welfare groups & Greens all back jobs over tax cuts

Leader of the Australian Greens, Adam Bandt, has commended peak worker and social services groups for coming out hard against the proposed acceleration of tax cuts for millionaires, saying the money would be far better spent on job creation.

"The Greens oppose the fast-tracking of tax cuts for millionaires, and with the ACTU and ACOSS now also coming out against the idea, Liberal and Labor are increasingly isolated in backing this trickle-down fantasy," Leader of the Australian Greens, Adam Bandt, said.

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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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Now's not the time to drop taxes for the rich

Bringing forward personal income tax cuts in an attempt to kickstart spending is a shortsighted move of economic vandalism, Greens Leader Adam Bandt said today, warning that it will entrench economic injustice and hamper recovery efforts.

"Tax cuts will hamper the recovery, depriving the public of money needed to invest our way out of the corona crisis and the climate crisis," Greens Leader Adam Bandt MP said.

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