The Victorian Greens will first read a new Bill that would introduce a 0.05% levy on the big banks to generate $16.5 billion in revenue over the next decade which the Greens say could be invested into direct cost of living measures for Victorians. <\/p>\n\n\n\n
It comes as households anxiously await today\u2019s RBA announcement on interest rates, just days after Commonwealth Bank recorded a mammoth $5.1 billion profit in just six months. <\/p>\n\n\n\n
The policy has been fully costed by the Parliamentary Budget Office to raise $16.5 billion over the next decade, and approximately $4.8 billion over forward estimates, or around $1.5 billion annually. <\/p>\n\n\n\n
The Victorian Greens say the Bill is aimed at putting pressure on the Victorian Labor Government ahead of the fast approaching 2025 Budget, and that this is an opportunity for the new Treasurer to rein in the big banks while generating billions in revenue that could be invested into real cost of living relief for Victorians. <\/p>\n\n\n\n
the Victorian Greens Economic Justice Spokesperson, Aiv Puglielli:\u00a0<\/strong><\/p>\n\n\n\n \u201cDo you think it\u2019s reasonable that the big banks can rake in over $5 billion in profits in just six months while we can\u2019t even properly fund our public schools and hospitals?<\/p>\n\n\n\n \u201cWe\u2019re told that Victoria is broke, that we can\u2019t afford to upgrade our schools or build more public housing, or fix our health system, but the big banks are getting away scott free with cashing in on everyday Victorians. <\/p>\n\n\n\n \u201cBanking lobbyists will come out swinging but the reality is that the banks can afford this when they\u2019re recording multi billion dollar record profits, paying their CEOs millions and we can\u2019t even properly fund our public services. <\/p>\n\n\n\n \u201cWith a budget around the corner, this levy is just one thing that we can do right now at the state level to hand a small amount of the big banks’ super profits back to Victorians.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The Victorian Greens will first read a new Bill that would introduce a 0.05% levy on the big banks to generate $16.5 billion in revenue over the next decade which the Greens say could be invested into direct cost of living measures for Victorians. It comes as households anxiously await today\u2019s RBA announcement on interest … Continue reading “GREENS CALL ON NEW TREASURER TO BACK BIG BANK LEVY BILL AS RECORD PROFITS RECORDED”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-31443","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/31443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=31443"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/31443\/revisions"}],"predecessor-version":[{"id":31444,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/31443\/revisions\/31444"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=31443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=31443"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=31443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}