A nurse shouldn’t pay more tax than Santos. The Greens will close the loopholes that allow mega-corporations to exploit our planet for free, and use that to fund our plan for Australia.
Australia is an incredibly wealthy country. But over the last 10 years we’ve seen hundreds of billions of dollars of wealth created in Australia, shipped overseas into the pockets of multinational corporations and investors.
With skyrocketing cost of living, chronically underfunded hospitals and schools, and a housing crisis – now is the time to ensure that wealth is used for all of us – not for overseas investors and private yachts.
The Greens would tax big corporations and billionaires to pay for essential services, including getting dental into Medicare, making it free to see the GP and 50c public transport fares.
In a minority government in 2010, the Greens got dental into Medicare for kids.
Key cost of living measures, as well as responsible revenue measures to pay for them, will be a priority for the Greens in any minority government in 2025.
Under our plan, Australia’s 150 billionaires would pay an annual 10% tax on their net wealth with a 10% limit on capital flight in any year. The plan is expected to raise $23 billion over the forward estimates and $50 billion over the decade.
Between 2018 and 2024, during prolonged economic crises, the total wealth of Australia’s billionaires more than doubled to an eye-watering $584.5 billion. A recent Oxfam Australia report revealed Australian billionaires on average made $67,000 per hour last year, over 1,300 times the hourly wage of the average Australian.
After Donald Trump’s election with the support of billionaire backers, people across Australia are disenfranchised with the major parties, their trust in the political establishment is at an all-time low and concern about billionaires’ influence on politics is rising.
Something has to change when a teacher, nurse or small business owner pays more tax than a massive multinational gas corporation.
- Closing the loopholes in Australia’s tax system on the oil and gas industry
- Implementing a super-profits tax on coal and other mining projects
- Bringing in a 10% tax on Australia’s 150 billionaires’ annual net wealth