In response to reports the government is set to lower superannuation tax concessions for people earning over $180,000, Greens Treasury spokesperson Adam Bandt MP cautiously welcomed the government moving to adopt parts of the Greens' superannuation policy but said the party was not ready to commit to passing the government's plan in the Senate without knowing more.
“The Greens wrote to the government in February, advising that reining in unfair tax breaks for people earning over $150,000 while making the system fair for low income earners could save up to $3 billion a year,” Mr Bandt said.
“If the government is looking at targeting people earning more than $180,000, we now have the Greens with the most progressive and fair superannuation policy, the government next but Labor prepared to keep unfair tax breaks for the very wealthy.”
“We are pleased that it seems the government is taking a big step towards the Greens’ superannuation policy but we are not prepared to sign up to voting for this just yet.”
“The Greens are sending a warning to the government. This Budget must be about reducing inequality, by closing the gap between the rich and everyone else, as well as securing the country’s revenue base to properly fund our schools and hospitals."
"If the government wants to fritter away the savings from reining in super on $5 per week income tax cuts or a corporate tax cut for big business, we're not interested."
“There is also a note of scepticism about the government’s move. If the government were serious, we could have had legislation in this Parliament back in February and we could already be tackling the increasing gap between the rich and everybody else by ending unfair tax breaks.”
“Instead, the government has waited until the eve of an early election to bring this on, which leaves a big question mark as to whether we’ll be able to legislate this before Parliament rises.”
Media contact: Adam Pulford, 0429 109 054