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Cost of top end tax cuts surges past a quarter of a trillion dollars

Media Release
Nick McKim 20 Oct 2022

Treasurer Jim Chalmers’ revelations that the cost of the Stage 3 tax cuts for CEOs, politicians and billionaires has surged over a quarter of a trillion dollars is further confirmation they should be scrapped, the Greens say.

“$254 billion is a staggering amount of money that would be far better spent putting mental and dental health into Medicare, wiping student debt and making childcare free,” Greens Economic Justice spokesperson Senator Nick McKim said.

“Giving massive tax breaks to CEOs and billionaires while inequality and the cost of living are surging is a choice this government is making.”

“Next week’s budget will be a statement of this Government’s priorities - it is still not too late to scrap the Stage 3 tax cuts and invest in genuine, immediate cost of living relief.”

“Keeping them in place will be a slap in the face to all the Australians who are struggling to make ends meet.”

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