- Protect our land and water from mining.
- Honesty and integrity in politics
- Local jobs
- People before profits
- Improved heath and education services.

Thursday, 25 April 2013

Revenue collapse means mining tax must be fixed

Monday 22 April 2013
Senator Milne

The Grattan Institute report released last night shows that if Australia is to avoid a national revenue crisis the Gillard Government must fix the mining tax immediately and stop handing over billions in fossil fuel subsidies to Australia's biggest and wealthiest mining companies.

"Labor needs to come clean on why it won't fix the mining tax and why it is handing over billions of dollars in fossil fuel subsidies to people like Gina Rinehart and Clive Palmer when we are facing both ongoing deficits and a national revenue collapse," Australian Greens Leader Senator Christine Milne said.

"Closing the loopholes in the mining tax and scrapping $13.8 billion in fossil fuel subsidies would help fund important initiatives like the Gonski school funding reforms and the National Disability Insurance Scheme.

"Clearly, Labor does not have the courage to take on the big mining companies, particularly in an election year.

"The Greens are the only party who have put costed revenue raising proposals on the table that would boost government coffers by tens of billions of dollars.

"The Grattan Institute supports what the Greens have been saying for a long time - that the accelerated depreciation rate for mining companies is sucking billions out of the budget that should be going to single parents, public schools and health care.

"Julia Gillard and Tony Abbott cannot afford to keep squandering the benefits of the resources boom while single parents are struggling to survive and our schools miss out.

"Just as the Greens have said, the report shows a race to a budget surplus is poor economic management and cutting government services is not the best way back to a balanced budget.

"The report also exposes the Coalition's fiscally reckless economic management with Tony Abbott proposing to burn a $11 billion hole in the budget by 2020 with uncosted policies such as paid parental leave and Direct Action, while abolishing effective and important revenue raising measures such as the mining tax and carbon price.

"The Grattan Institute says that fixing the budget will require more tax, increased savings and some tough political choices.

"So my question to the Prime Minister and Tony Abbott is - do we keep giving billions of dollars in tax concessions to big mining companies or is it time to help Australians by funding better education, improved healthcare and lifting people out of poverty?

"Only the Greens can be trusted to stand up to the big mining companies and deliver revenue-raising measures that won't hurt Australia's most vulnerable.

"This report also shows that you need the Greens in the balance of power to stop Tony Abbott's wrecking ball economics."

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