Today\u2019s MYEFO has seen a massive blowout in the costs of maintaining Labor\u2019s handouts.<\/p>\n\n\n\n
Meanwhile, the Treasurer has warned of \u201cdifficult decisions to come\u201d, while boasting of banking all savings in this update, instead of funding services to bring down the cost of living and protect nature.<\/p>\n\n\n\n
In the middle of a cost of living crisis, this shows the government continues to prioritise tax cuts for multimillionaires ahead of workers. <\/p>\n\n\n\n
The government\u2019s weak reforms to the gas tax have also failed, drawing $500m less than anticipated, as corporations continue to evade the Petroleum Resources Rent Tax. With a 23% drop in gas tax revenue, the downgrade is as substantial as that seen on tobacco excise. <\/p>\n\n\n\n
The Greens have again reiterated that a 25% flat levy on gas exports would solve the government\u2019s challenges of ensuring gas exporters don\u2019t just ship it all overseas, leaving Australians with higher energy bills. <\/p>\n\n\n\n
Senator Larissa Waters, Leader of the Australian Greens said:<\/p>\n\n\n\n
\u201cWe\u2019re in a cost of living crisis, but Labor continues to put handouts for wealthy property investors, fossil fuel subsidies and multimillionaires ahead of everyone else. <\/p>\n\n\n\n
\u201cThis mini budget from Labor sees more money go towards wealthy property investors, while they\u2019re taking less and less from multimillionaires and giant gas corporations.<\/p>\n\n\n\n
\u201cPeople with a dozen houses or $15 million in their super don\u2019t need a helping hand from the government – but Labor\u2019s continuing to put them ahead of everyone who works for a living.<\/p>\n\n\n\n
\u201cMillions of people are doing it tough trying to find a home and keep their heads above water, but Labor is still refusing to tax multimillionaires fairly, to help raise revenue to fund more for housing or essential services.\u201d<\/p>\n\n\n\n
Senator Nick McKim, Australian Greens economic spokesperson said:<\/p>\n\n\n\n
\u201cThe increase in negative gearing is obscene and confirms that property speculators are the big winners from Labor\u2019s so-called housing reforms.\u201d<\/p>\n\n\n\n
\u201cLabor seems to have totally given up on demanding any tax from offshore oil and gas extraction.\u201d<\/p>\n\n\n\n
\u201cThis is a slap in the face to ordinary Australians who are working hard and paying tax.\u201d<\/p>\n\n\n\n
\u201cThere is so much more that could be done to make big corporations and the super wealthy pay their fair share of tax so we can invest in protecting nature and supporting the millions of Australians struggling to make ends meet.\u201d<\/p>\n\n\n\n
\u201cLabor may have given up on a fairer economic system, but the Greens will not.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Today\u2019s MYEFO has seen a massive blowout in the costs of maintaining Labor\u2019s handouts. Meanwhile, the Treasurer has warned of \u201cdifficult decisions to come\u201d, while boasting of banking all savings in this update, instead of funding services to bring down the cost of living and protect nature. In the middle of a cost of living … Continue reading “Mini budget sees massive negative gearing blowout, funds flow to fossil fuels”<\/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-36676","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\/36676","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=36676"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/36676\/revisions"}],"predecessor-version":[{"id":36677,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/36676\/revisions\/36677"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=36676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=36676"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=36676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}