Billionaires doubling fortunes shows need for Greens’ billionaires tax

The Australian Greens MPs

Greens Leader, Adam Bandt, says revelations in the Oxfam report that Australian billionaires have doubled their already obscene fortunes gives strength to the Greens’ proposal for a 6% annual tax on billionaires’ wealth.

Over the course of the pandemic, while people endured lockdowns and hardship, billionaires doubled their wealth to $255 billion, equivalent to the wealth of 7.7 million Australians, held by just 47 people.

Greens leader, Adam Bandt MP said:

“The Greens are the only party taking progressive tax reform to this election.

“While everyone else was doing it tough during the pandemic, Australia’s billionaires made out like bandits and it’s time they paid tax on their obscene wealth.

“The numbers are clear: we need a billionaires tax and a corporate super-profits tax.

“If billionaire corporations paid their fair share of tax, we could fix the housing crisis and get free dental and mental health into Medicare.

“In balance of power after this election, the Greens will kick the Liberals out and push the next government to introduce a billionaires tax.”

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