Australia’s tax transparency laws have been significantly strengthened, with the Government supporting Greens amendments to lower the reporting threshold to a turnover of $100 million for Australian private companies.

“This is a massive step forward for tax transparency in Australia,” Greens Treasury and Economic Justice spokesperson Nick McKim said.

“We already know that big corporations are paying too little tax - today’s changes mean we can have a much clearer picture for many more companies.”

“The Australian public has a right to know this information.”

Greens Treasury spokesperson, Senator Nick McKim, has responded to today’s decision by the RBA to increase interest rates.

“The RBA is smashing workers, renters and recent homebuyers to try to bring down inflation that is being driven by supply shocks and corporate profiteering.

“We are hearing plenty from the government and the RBA about supply pressures.

“What we aren’t hearing from the government or the RBA is about the role of corporate profiteering.

Greens Treasury spokesperson, Senator Nick McKim, has responded to the news of steep falls in house prices ahead of tomorrow’s RBA meeting.

“The RBA needs to hit pause."

“Inflation is being driven by supply side shocks and corporate profiteering.

“Jacking up interest rates will not fix these problems.

“The RBA needs to be honest about this with the Australian public.

“Monetary policy cannot curb inflation without punishing workers, renters and new homeowners, none of whom are the cause of the problem.

“They should not increase rates tomorrow.

Greens Treasury spokesperson, Senator Nick McKim, has responded to the Treasurer's Ministerial Statement on the Economy.

“The Treasurer has just told Australians to brace for higher unemployment and further real wage cuts because interest rates are going to go up.

“But the Treasurer said nothing about what big corporations should brace for.

“The share of national income going to corporate profits are at record highs, and the share of national income going to wages are at record lows.

“Corporate profiteering is fuelling inflation, not wages.

Greens Treasury spokesperson, Senator Nick McKim, has responded to the release of today’s inflation figures.

“The government should introduce a corporate super profits tax to help ease cost of living pressures, including by fixing up the Petroleum Resource Rent Tax (PRRT).

“And they should use the additional revenue to provide cost of living support, such as by putting dental into Medicare and making childcare free.”

“COVID disruption and energy price hikes are driving inflation globally.

“But inflation is also being driven by corporate profiteering.

The Greens will today outlined plans for a $15 billion “Made in Australia” Bank and manufacturing fund - bolstering Australia’s capacity to produce components needed for the transition to clean, cheap renewable energy.

Australian Greens Senator for WA Dorinda Cox will today be joined by Greens candidate for O’Connor Giz Watson in Kalgoorlie - a region with endless sunshine and huge potential as a renewable energy superhub.

The Greens have pledged $1.14 billion in extra federal funding for WA chronically underfunded hospitals.

This investment would be funded by repairing the broken ‘resource super profits tax’ (the PRRT), forcing big corporations to pay royalties on the gas they currently access for free.

The Petroleum Resource Rent Tax (PRRT), introduced in 1987, is meant to ensure that the public gets a fair share of the unearned revenue (rent) enjoyed by companies by virtue of having exclusive access to Commonwealth resources. 

The Australian Greens have slammed the government’s final budget for making housing more expensive, locking in tax cuts for the wealthy and funding more coal and gas projects rather than acting on the climate crisis.

The Liberals' final budget contains more than $37.6 bn for coal, oil and gas, gives $13bn of public money to property investors, and has no new money to build affordable housing.

The Greens want government invest to build a million affordable homes.

Quotes from Leader of the Australian Greens, Adam Bandt MP: