The Australian Greens have joined RBA Governor Dr Lowe\u2019s calls for tax reform, with Australian Greens Leader, Adam Bandt, saying that means removing unjustifiable tax breaks for polluters, shifting tax concessions towards research, development and innovation and boosting public sector investment.
\nIn responding to Dr Lowe\u2019s speech, Greens Leader Adam Bandt MP warned the Liberal Party against using it as an opportunity to further give tax breaks to their corporate backers, saying everyday Australians should be the chief beneficiaries of any reforms.
\n\u201cWe back the call for major tax reform, which must mean getting rid of unjustifiable tax breaks to the big polluters and instead offering incentives to research, development and innovation. To get our economy out of this crisis we need new thinking, not just tinkering around the edges,\u201d Mr Bandt said.
\n\u201cThe pathway out of this crisis will be green growth, not blue cuts.\u201d
\n\u201cYou have to accelerate out of a corner. The government is flagging an era of aggressive deregulation, but that will only prolong the pain and leave us poorly-equipped to deal with future economic shocks.\u201d
\n\u201cTo get our economy back on track we need a Green New Deal, with people back in secure work and government investment to kickstart the economy. Slashing workers\u2019 rights and the corporate tax rate won\u2019t just fail to encourage investment, it will be another setback in the attempt to recover from this crisis.
\n\u201cThe government must immediately shelve its plan to cut the R&D tax concession and instead come back with a new plan to increase it.
\n\u201cThis is the perfect opportunity for a price on carbon that will encourage innovation, foster growth in new jobs and industries, and end the piecemeal approach to emissions reduction that we\u2019ve seen over the past decade. It won\u2019t just cause a spike in economic activity as companies avoid paying for pollution, it will create a truly 21st century industrial sector that is secure well into the future.
\n\u201cAustralia\u2019s labour laws already breach international standards, our wages are stagnating, and job insecurity was increasing, our efforts should encourage people to come back into the workforce and give them the security they need to start spending again.
\n\u201cUnemployment is expected to surge to 10-16%, and unsurprisingly young people will be hit the hardest. Recent data shows people under 20 have seen drops in employment of up to 9.9%, with wages plummeting by 12.7%.
\n\u201cThe Greens will block any attempts to drive through massive tax cuts and further strip away protections for workers and the environment. We hope the government will instead accept the Greens\u2019 call for targeted measures to support R&D, help manufacturing and lift wages.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Australian Greens have joined RBA Governor Dr Lowe\u2019s calls for tax reform, with Australian Greens Leader, Adam Bandt, saying that means removing unjustifiable tax breaks for polluters, shifting tax concessions towards research, development and innovation and boosting public sector investment. In responding to Dr Lowe\u2019s speech, Greens Leader Adam Bandt MP warned the Liberal … Continue reading “RBA Governor right about need for tax reform, but that doesn't mean tax cuts: Greens”<\/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-6156","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\/6156","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=6156"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/6156\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=6156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=6156"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=6156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}