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Tax cut Senate push shows Turnbull is out of touch with Australian society

Media Release
Peter Whish-Wilson 31 Jan 2017

The Greens Treasury spokesperson has criticised Malcolm Turnbull for continuing to push for tax cuts that would drive the budget further into structural deficit, and lead to more cuts to services and support for the less well off.

Senator Whish-Wilson said, “When all you have is a hammer, then everything starts to look like a nail, and that is exactly how the Turnbull Government sees economic policy.

“No matter what problems arise in the economy, the only response the Turnbull Government has is a corporate tax cut.

“Unlike the Liberal Party, most Australian’s don’t want to be slaves to free market ideology and failed notions of trickle down economics.

"We value our social safety net. This was made clear by the community response to the 2014 budget. But the Liberals have failed to learn this lesson.

“The fiscal recipe of tax cuts for the wealthy and for companies, matched with false debt recovery shakedowns of social security recipients is a toxic mix.

“Corporations are paying no more tax than they were a decade ago despite the economy growing 33% over that time and that amount continues to fall. Business are not paying their fair share already and the amount they contribute to society needs to be rising, not falling.

“Australians are rightly sceptical about companies sticking their hand out for more, when 136 of Australia’s largest companies paid no tax whatsoever last year and only 5% of companies paid the full company tax rate of 30%.

“Malcolm Turnbull should instead be bringing in legislation for a Beneficial Owners Registry, that was promised by Kelly O’Dwyer during the election, to hold tax-dodging companies to account,” he concluded.

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