BUDGET 2017

Malcolm Turnbull and Scott Morrison handed down the 2017 budget, which screws over young people, demonisees our most vulnerable and delivers nothing to solve the big issues we’re facing.

This isn’t a roadmap – it’s a dead-end. Here are a few key things we’ve learnt today that we want you to know immediately:

  • There is no mention of climate change, global warming or renewables in the Treasurer’s speech.
  • No increase to Newstart payments, but income support recipients will now be subjected to random drug tests.
  • On housing, no action on investor tax breaks like negative gearing or the CGT discount, and there’s a $400 million cut to direct funding for housing affordability in the 2018/19 financial year
  • Uni fees have been hiked, with students forced to pay back their debt sooner… all to save the government $3.8 billion
  • People earning over $180,000 will receive a tax cut of 1.5%
  • There’s $90 million for gas – $60 million of it for fracking and onshore gas development
  • Overseas aid has been cut by $300 million
  • There’s just $15 million extra provided for preventative health

Budgets should aim to solve our greatest challenges. Instead, because the Turnbull government is stuck in the past and determined to make young and at risk Australians suffer, we’re missing enormous opportunities to tackle climate change, housing affordability and university funding.

Unlike the government, we’re committed to building an economy that works for everyone by investing in renewables, removing unfair tax breaks, putting people before big corporations and reducing inequality.

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MORE ON BUDGET 2017

It’s time to grow the new economy, using clean energy to generate sustainable jobs and income for the future. We have everything we need, except the political will to invest for the future and the courage to take on the vested interests of the past. To make the transition we need to stop treating debt like a rude word. Borrowing now so you’ve got a productive asset in the future makes for a worthwhile investment.

Australia’s economy is in transition, and we have an opportunity to invest in the economy and raise revenue for the things we care about. By reforming unfair tax breaks such as the diesel fuel rebate for miners, superannuation tax concessions, capital gains tax concessions and negative gearing for new properties the Greens will restore government revenue to around 26 per cent of GDP, the same level as under John Howard, within the next four years.

Authorised by R Di Natale, Parliament House, Canberra ACT 2600.