Scrap Corporate Tax Cut, Fund Welfare Programs : Greens
29 March 2011 at 11:52 am
The Australian Greens will move to scrap the Gillard Government's planned corporate tax cut for big businesses, arguing the money could be better spent on establishing a national dental care scheme and funding inreases in welfare payments, the 2011 ACOSS Conference has heard.
Addressing the ACOSS 2011 National Conference in Melbourne, Greens leader Senator Bob Brown says scrapping the big business tax cut would save $18 billion over the next ten years.
Research undertaken by the Greens show the Labor government’s proposed reduction of the corporate tax rate from 30% to 29% will cost other taxpayers $2.4 billion in 2013-14 and $18 billion over the next decade.
Brown says the money saved by removing the tax break for big businesses could be used to setup a national dental care scheme and increase youth allowance, New Start, Austudy and Abstudy by $50 per week and increasing single parenting payments.
Brown says the Australian Greens will be moving to scrap the 1% tax cut for large businesses, while supporting the cut planned for small businesses.
Senator Brown says Australians need to understand this is a tax break for the very rich, with the the major beneficiaries being mining companies and the big four banks.
He says there will be no income tax relief for the rest of Australia – Australia is facing a budget that will see very savage cuts.
The proposed cut is to be funded by the government's planned 30 per cent minerals resources rent tax. Brown says this is effectively tacking money away from taxpayers to give it back to the mining companies.
Brown says the ACOSS Conference is about bringing fairness back into a country which is losing touch with its motto of a fair go.
Senator Brown also used the conference to slam the reduction of the treasury's minerals resources rent tax.
Brown says the mining giants were able to spend $22 million on an advertising campaign that saw $100 billion removed from the tax system and given back to the super rich.
He says that each year for the next decade their will be $10 billion missing from the treasury's ability to give Australians a fair go, because of a $22 million advertising campaign by the big miners.
Brown says if a fair return isn't given to Australians when things are booming, how can anyone expect a fair return when the boom is over?
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*Photo Credit : Ryan Witcombe