Greens plan $296bn ‘big corporations’ tax grab

GREENS’ ROBIN HOOD REFORMS

Greens leader Adam Bandt is set to present his “Robin Hood reforms” to the National Press Club later today. The AAP reports the party plans to increase taxes on corporations and use the money to fund cost of living relief. “Big corporations across the economy have squeezed hundreds of billions of dollars out of the public since the end of the pandemic — too much of it tax-free. Enough is enough,” Bandt will say.

The policy is an updated version of the one the Greens took into the last federal election, AAP says, with a 40% tax on corporations’ “excess profits” planned to raise $296 billion over a decade.