MYEFO: Greens Say Focus Should Be On How To Raise Revenue, Call For End To Panic On Debt

The Australian Greens have reacted to the release of the Mid-Year Economic and Fiscal Outlook (MYEFO) by calling for an end to the panic about debt in favour of a new focus on how to raise revenue to fund services and jobs.

Milne

“Now is not the time to be talking about spending restraint because of a panic on debt,” said Greens leader Senator Christine Milne.

“The old parties wasted the resources boom,” Milne said. “A serious look at raising revenue is necessary to address subdued unemployment, an ageing workforce and increased demand for services.”

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Text of media release from the Australian Greens.

End panic on debt and let’s talk about revenue and jobs – Greens

Responding to the release of the Mid-Year Economic and Fiscal Outlook, Australian Greens Leader Christine Milne has warned against deep budget cuts and says the focus should now be on how we can raise revenue to spend on public services and the infrastructure of the future.

“Now is not the time to be talking about spending restraint because of a panic on debt,” Greens Leader Christine Milne said.

“We need to get over the debt blame game and talk about how we are going to raise the revenue we need to fund services and jobs.

“The old parties wasted the resources boom. A serious look at raising revenue is necessary to address subdued unemployment, an ageing workforce and increased demand for services.

“Abbott’s Commission of Audit for budget cuts looms. Cuts will hurt every day Australians when economic growth is going to be slower than expected and unemployment will rise.

“Meanwhile the government is moving to abolish the price on pollution which will cost over $7 billion. Big mining companies are making mega profits but instead of fixing up the mining tax the government is abolishing it at a loss of $3.4 billion in revenue.

“With the state of the economy being worse than expected, now would be the worst possible time for budget cuts. We need to safeguard jobs and services. We need to talk about revenue.

“This is why the Greens established a parliamentary watchdog to scrutinise the Abbott government’s Commission of Audit for cuts. The inquiry will keep a close eye on the razor gang to prevent the cruel and severe cuts that Mr Hockey and Mr Abbott are cooking up.”

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