Greens Treasury spokesperson, Senator Peter Whish-Wilson, provides the following comments on the passage of the Government’s bill to provide a tax cut to the highest 20% of income earners in Australia, supported by the Labor Party and One Nation.
Senator Whish-Wilson said, “Labor and One Nation have sided with the Government to give a $4 billion tax cut to the top 20% of income earners, whether they earn $90,000 or $9 million per year.
“After extended questioning the Government couldn’t even answer the most basic questions about what impact this tax cut would have on the economy, or why it targeted the wealthiest, rather than those on a lower wage who are most impacted by bracket creep. This is a political strategy, not an economic strategy.
“Labor and One Nation have placed blind faith in trickle-down economics, hoping that a tax cut for the rich will help the whole economy. They have turned their backs on their supporters, knowing that by taking $4 billion from the budget the Government will certainly seek to recoup it from income-support payments and services very soon.
“Labor only put up one speaker on the Bill and asked no questions in the committee stage. Their willingness to provide cover for the Government to give $315 to the highest-income workers in the country must be demoralising for their supporters.
“This isn’t a carefully targeted tax cut, this is a misguided missile spraying money at people who don’t need it, only weeks after taking money away from those who do,” he concluded.
Greens Treasury spokesperson, Senator Peter Whish-Wilson
