The Senate Inquiry into Corporate Tax Avoidance report released today reveals the Labor Party is signing off on the Liberals' policy not to touch the tax system for existing petroleum resource projects. The Australian Greens said that this will allow hundreds of billions of dollars of petroleum resources to be extracted without a cent in royalties or taxes paid under the Petroleum Resource Rent Tax for decades to come. 

The Australian Greens today ruled out supporting both the Coalition and Labor’s personal tax cuts, calling for greater public investment in essential services instead.

“These income tax cut are nothing more than a bribe to try get their massive company tax cuts over the line. People on minimum wage won’t even see $4 a week, with the wealthiest Australians benefiting the most. 

“Rarely do budgets give us such stark choices about what kind of future we want for our country, but this one surely does. We have a clear choice between the Liberals’ selfish, dog-eat-dog worldview or a more caring society where we look after each other,” Dr Richard Di Natale said.

“Under the Government’s radical US-style tax plan, a hedge fund manager on $200,000 gets 10 times the tax cut as the person who trims the hedges around his mansion. 

“We have a progressive tax system in Australia but now we have a fight ahead of us to keep it.

Greens Treasury spokesperson, Senator Peter Whish-Wilson, commented on the appointment of David Murray as the new Chair of AMP.

“I'm genuinely surprised at this announcement by AMP.

“If AMP wanted to make an appointment that would drive cultural change, or be seen to be doing so, there will be many people justifiably sceptical on whether David Murray is right for the job.

“David Murray is one the key architects of the sales-driven, profit-before-people culture that was the result of the vertical integration model of the big banks.