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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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Discussion on super lifetime caps welcome: Greens

Adam Bandt 11 Nov 2015

Greens Treasury spokesperson Adam Bandt MP today said the Greens are up for a discussion about tackling unfair tax breaks by putting a cap on voluntary superannuation contributions over a person’s lifetime and called on the government to put a costed superannuation policy on the table.

“We welcome any discussion about making sure superannuation looks after people in their retirement and isn’t used as a vehicle for tax minimisation, which it was never intended to be,” Mr Bandt said.

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Time for Hockey to change tack on Budget: Bandt

Adam Bandt 8 Sep 2015

In response to the Parliamentary Budget Office’s update on the impact of the government’s unlegislated measures on the Budget, Greens Treasury spokesperson today said that it’s time for Joe Hockey to change tack by ditching his unfair attacks on everyday Australians. Mr Bandt said to address the revenue crisis that Australia is facing, the Treasurer should end unfair tax breaks like super concessions and negative gearing.

“The PBO update confirms that Joe Hockey needs to change tack if he insists on balancing the Budget,” Mr Bandt said.

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Summit backs Greens’ Retirement Review Push

Adam Bandt 27 Aug 2015

Greens Treasury spokesperson Adam Bandt MP today welcomed the National Reform Summit’s action plan backing the Greens’ push for a review into the retirement system, as well as other key Greens policies, but warned that the it completely underestimated the impacts of climate change on our future prosperity.

“The action plan agreed by the business, union and community leaders at yesterday’s summit endorses the Greens’ push for a broad review into our retirement income system,” Mr Bandt said.

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Hockey would have to put GST on health, food & education to fund income tax cuts

Adam Bandt 26 Aug 2015

Greens Treasury spokesperson Adam Bandt MP has released new research showing that Treasurer Joe Hockey, who has floated the idea of an expanded GST, would have to extend the GST to health, education and fresh food to fill the Budget hole created by his proposed income tax cuts.

“The Treasurer is planning a tax shift, not a tax cut," Mr Bandt said.

"He’s ruled out balancing the books by reforming unfair tax breaks for the wealthy, but he remains happy to talk about making everyone else pay through a broader GST.”

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Budget may never return to surplus under Hockey’s ‘magic pudding’ tax cuts

Adam Bandt 25 Aug 2015

Greens Treasury spokesperson Adam Bandt MP today said new research suggests that Treasurer Joe Hockey’s mooted ‘bracket creep’ tax cuts may see the Budget never return to surplus, unless the government increases other taxes or introduces new spending cuts.

"We don't have a budget crisis but we will have a revenue crisis if a $25 billion hole is punched in the government's income stream,” Mr Bandt said.

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Hockey backs Greens’ bank deposit levy model

Adam Bandt 11 Aug 2015

Greens Treasury spokesperson Adam Bandt MP today welcomed reports that Treasurer Joe Hockey is supporting the Greens’ model for the bank deposit levy and said that the Greens would support passing a well-crafted levy through the Parliament in the next sitting fortnight.

“I’m pleased to hear reports that the Treasurer has listened to the Greens’ call to apply a bank deposit levy to only to the Big 4 Banks,” Mr Bandt said.

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Greens to oppose deficit levy and offer permanent taxes on wealthy

The Australian Greens will oppose a temporary so-called deficit levy but have left open the option for permanent increases in taxes on the wealthy if the Abbott government wants to get serious about progressive structural tax reform.

"Australia needs long-term structural economic reform for the future to address challenges like climate change and growing inequality," Greens Leader Christine Milne said.

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