Today Leader of the ACT Greens Shane Rattenbury, alongside Deputy Leader of the ACT Greens, Jo Clay have launched a measured yet ambitious big corporations tax to safeguard essential services from being cut in this upcoming Budget.
Leader of the ACT Greens, Shane Rattenbury said the announcement will provide a pathway for the ACT Government to ensure the next budget does not cut essential services just to balance the books.
"In the last few months, we have seen the Labor Government rake up a $387 million overspend on the health budget and indicate they will need to make tough decisions to manage future spending.
"In the context of a budget that is pushing at the sides, and a national crisis in essential services like housing, healthcare and transport-we need a plan to fund the things Canberrans really need, right here, right now."
The Greens plan announced today would introduce a new taxation threshold, for corporations with an Australia wide payroll of over $200 million a year, like Coles, Woolworths and the big banks - raising $107 million every year.
"Companies that operate in our city and make billions in profits, like Qantas and Wesfarmers, should be paying their fair share of tax. But instead, they're raking in massive profits while Canberrans struggle with the cost of living," Mr Rattenbury said.
"In just the first half of 2025, Woolworths pocketed a $1.7 billion profit-while a record number of Canberrans are turning to food banks because they can't afford to eat. The contrast couldn't be starker."
Deputy Leader of the ACT Greens and Spokesperson for Finance, Jo Clay said the move will save services from being cut and help the government to fund more things Canberrans really need, like health and housing.
"Too many people are facing homelessness, sacrificing meals to feed their kids, or skipping medical appointments. We can't afford service cuts when people in Canberra are already struggling," Ms Clay said.
"Taking services away from our community is not good economic management - it increases disadvantage and pushes more people into crisis.
"We just saw the government need more money for the hospital because people cannot get affordable care before they reach an emergency. Balancing the books won't work if you're hurting the people you're supposed to represent and kicking costs down the road.
"If the ACT Labor Government truly believe they are progressive and practical, then they will tax the corporations making billions in profits off everyday people in Canberra and redirect that into the services people need and want."
Today's announcement pushes upcoming changes to the ACT's payroll tax to be more ambitious, fair and ensure the services people in Canberra want and need are actually funded.
The policy will not impact small or medium sized businesses. It will ensure the largest and most profitable corporations in the ACT are paying their fair share in tax.
