The Australian Greens are heartened to hear that at least some people in the ALP want to raise the woefully low rate of Newstart
“Clearly the pressure is on, Australian Greens spokesperson on Family and Community Affairs Senator Rachel Siewert said.
“You’ve got the lower house cross bench supporting this reform, you’ve got the social services sector, Australian people, the business community and as we all know, John Howard calling for an increase.
“We’ve already launched our policy costing on increasing the rate of Newstart which demonstrates that one way we can pay for increasing Newstart by $75 a week is through the cracking down on tax avoidance like trusts and superannuation funds and introducing a Buffet Rule that means the super wealthy will have to pay a baseline amount of tax, no matter how many deductions they use.
“Restricting tax deductions for 45,000 people could pay for a new quality of life for 838,000 Australians“With a Buffett rule and the long-standing Greens policy to increase the top marginal tax rate by 2 percent, we can make serious inroads in eliminating poverty and economic inequality.
“Our plan is to cap deductions so that someone earning above $300,000 a year - the richest 0.5 percent of the workforce, could no longer deduct to a level below 35 cents in every extra dollar earned. It would generate $10.5 billion in revenue over the estimates and $46 billion over a decade.
"I look forward to working with my colleagues to urgently address rising income inequality."
Lucy Cowcher-Guthrie: 0418 401 180