Australian Greens: Greens welcome ACTU’s call for Stage Three tax cuts to be repealed

Greens Treasury spokesperson, Senator Nick McKim, has responded to the ACTU’s paper to the Government Jobs Summit saying the pressure is growing on Labor to walk away from the Stage 3 tax cuts.

“The Greens welcome the ACTU’s paper and congratulate them on making the case for serious economic reform.

“Scott Morrison’s Stage 3 tax cuts will overwhelmingly flow to the wealthiest people in the country, with a $9000 tax break for people earning $200,000 but nothing for those on the minimum wage.

“Instead of giving a tax cut to billionaires and politicians, we should be putting dental and mental health into Medicare and making childcare free.

“There is a cost of living crisis being driven in large part by big corporations and the super wealthy – they need to pay their fair share of tax so everyone in Australia can benefit.

“The Greens also welcome the ACTU’s call for the introduction of super profits taxes to rein in corporate profiteering and a reform of business tax to encourage productive investment.

“CBA has just reported an obscenely large profit in the face of rising inflation and rising interest rates.

“While the government and the RBA are asking workers to take more pain, big corporations are filling their shareholders’ pockets.

“Super profits taxes are needed to curb corporate profiteering that is exacerbating inflation and to fund cost of living relief for Australians who are struggling to make ends meet.”