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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Responding to reports that Stage 3 of the government’s tax cuts, voted into law by Liberal and Labor, may not be fully repealed after the next election, Greens Leader, Adam Bandt, has called on Labor to join the Greens in taking on the government by ending the speculation and confusion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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Budget fine print reveals tax cut scam

The Greens say the government’s centrepiece income tax cuts are a trickle-down scam as analysis reveals low and middle-income earners lose their ‘tax cuts’ after a year, while the wealthy keep them forever (see table below). 

The Greens are calling on Labor to reverse their support for the Liberals’ trickle-down tax cuts.

“Low-income earners’ tax cuts disappear after a year while the wealthy keep theirs’ forever,” said Greens Leader, Adam Bandt. 

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Budget Media Release: Senate must block trickle-down tax cuts that deliver for millionaires while leaving millions behind

The Greens are calling on Labor and the crossbench to block key elements of a terrible trickle-down Budget that spends big but spends badly, said Greens Leader, Adam Bandt MP, and Treasury spokesperson, Nick McKim.
 
The Greens said the Budget fails to invest in a green recovery to tackle the climate crisis, grow new industries and create jobs. The budget gives young people the finger and actively engineers a worse world for our children.
 

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Greens call on Labor and Crossbench to oppose unfair, wasteful tax cuts

Greens Leader Adam Bandt says Labor and the crossbench must join the Greens in opposing tax cuts to the super-wealthy, warning that Scott Morrison’s COVID recovery budget looked set to supercharge inequality and create a ‘lost generation’ of young people.

Shadow Treasurer Jim Chalmers refused to rule out supporting a fast-tracking of Stages 2 & 3 of the government’s $286 billion tax cut package, which overwhelmingly benefits people on higher incomes. Mr Bandt said with economists discrediting the Government spin that Stage 2 was ‘kinder’ than Stage 3, both should be opposed.

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JobKeeper retention, not tax cuts, as Greens to move in Senate to block JobKeeper reduction

With JobKeeper payments set to drop from Monday 28 September, the Australian Greens have today released Parliamentary Budget Office-backed analysis showing it would cost less to continue JobKeeper at its current rate through to March 2021 than to bring forward tax cuts for high income earners by even one year, as is reportedly being considered in the upcoming Budget. 

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Lending changes are foie gras for banking

Greens Economic Justice spokesperson, Senator Nick McKim, responded to reports today that the government will loosen lending standards and relieve the banks of responsibility for determining a customer’s loan capacity to service a loan.

“Today’s announcement shows exactly where this government’s allegiances lie," Senator McKim said.

“The day after Westpac received the largest corporate penalty in Australian history, the government is changing the rules to benefit the banks."

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Cost of fast-tracking tax cuts could fund $225b of recovery investment instead, new PBO costings reveal

As calls grow for a $220b infrastructure spend to tackle the recession, new costings completed by the Parliamentary Budget Office, at the request of the Australian Greens, have revealed that the Government could fund $225 billion in job-rich major infrastructure projects for the same cost to the Budget of bringing forward round 2 of planned personal income tax cuts.

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