The Australian Greens have joined RBA Governor Dr Lowe’s calls for tax reform, with Australian Greens Leader, Adam Bandt, saying that means removing unjustifiable tax breaks for polluters, shifting tax concessions towards research, development and innovation and boosting public sector investment.

In responding to Dr Lowe’s speech, Greens Leader Adam Bandt MP warned the Liberal Party against using it as an opportunity to further give tax breaks to their corporate backers, saying everyday Australians should be the chief beneficiaries of any reforms.

 Leader of the Australian Greens, Adam Bandt MP and Housing Spokesperson Senator Mehreen Faruqi have today launched a bold plan to build 500,000 new homes, create 40,000 new jobs and 4,000 new apprenticeships, and push back the risk of recession nationally.

With construction having fallen 7.4% over the year, and with nearly one in three young people struggling to find work, this project will inject crucially needed stimulus into the economy while putting homes into reach for young families.

Greens Treasury spokesperson, Senator Peter Whish-Wilson, and leader, Adam Bandt MP, called on the government to respond to today’s interest rate cut with stimulus spending, including for transformative infrastructure.

Senator Whish-Wilson said "this government must overcome seven years of surplus mania.

"We have the triple whammy of COVID-19, secular stagnation and a climate emergency, including recent bushfires.

"The government must use the latest record low interest rates and undertake stimulus spending.

The Government needs to implement a Green New Deal to keep the economy moving and stave off the growing risk of recession, said Leader of the Australian Greens Adam Bandt MP.

Mr Bandt has written to the PM calling for the Government to adopt a Green New Deal, outlining three immediate measures that would boost the economy: lifting public sector wages, a $6 billion investment in the national electricity grid  and raising Newstart and Youth Allowance by at least $95 dollars a week.

Comment by Adam Bandt MP:

Australian Greens Leader Adam Bandt has called for a growth in ‘renewables mining’ jobs and a phase out of thermal coal as part of the Green New Deal to unlock Australia’s potential as a clean energy superpower.

Comment from Greens Leader Adam Bandt MP:

“A growth in ‘renewables mining’ jobs as we phase out coal is an important part of the Green New Deal.

“Government needs to take the reins and oversee the transition so we grow jobs and industries, including in areas where coal mines and power stations exist at the moment.

Leader of the Australian Greens Adam Bandt, MP has reached out to the CEOs of Australia’s leading peak business and industry bodies to discuss the role industry can play in a Green New Deal.

“A Green New Deal may be government-led, but it is definitely good for business. It’s critical that we acknowledge tackling the climate crisis and reducing inequality isn’t just a matter for government. We need to make sure Australia’s employers are on board,” Bandt said.