The Greens have our eyes firmly fixed on the future and the challenges the 21st century poses. We care about what life will be like in Australia in 50 years, not just the next three. Standing up for what matters outlines the measures we need to protect our environment, to build a caring Australia and to create a new diversified, innovative and low-carbon economy.
THE GREENS' PLAN FOR AUSTRALIA'S FUTURE
Reforming our nation so the economy serves people and the environment - not the other way around - is central to the Australian Greens vision.
We need to start closing the gap between rich and poor, which has grown under Labor. The millionaires, record profit-making banks, and overseas shareholders, who own 80 per cent of the mining operations in Australia, should be paying more tax.
Australia should be investing in higher education, not cutting funding to universities and putting students under even greater pressure. We should be increasing Newstart, not condemning people to poverty, and we should be caring for single parents, not making their lives even more difficult.
Australia's future is in our minds, not our mines. To secure the innovative industries of the future, Australia must stop spending billions subsidising the fossil fuel sector and redirect money to science, research, education and innovation.
We can do all these things and more, like bringing dental care into Medicare for everyone, by standing up to the big mining companies and big banks and demanding a fairer contribution to the community.
The Greens have a four-step plan, costed by the independent Parliamentary Budget Office that will raise an extra $42.7 billion by:
• Fixing the mining tax. So the multi-national mining corporations pay their fair share for mining our natural resources. An improved mining tax will raise $21.8 billion over the three years from 1 July 2014.
• Abolishing tax breaks for the fossil fuel industry and assistance to carbon capture and storage programs. This will raise an additional $12 billion over the forward estimates. Please note: These proposals are directed at big mining companies and ending tax breaks for fossil fuels. They will not impact farmers in any way.
• Introducing a Public Support Levy on the big banks. A 20 basis point levy on bank assets over $100 billion will raise $8.4 billion over the three years from 1 July 2014.
• Increasing the marginal tax rate on incomes over $1 million. Increasing the rate to 50 per cent from 1 July 2014 will raise $500 million over the forward estimates.
The $42.7 billion will provide enough revenue to pay for the Greens' PBO costed policies including:
• Reversing Labor's uni cuts - $2.3 billion.
• Increasing university base funding by 10 per cent - $1.5 billion over the forward estimates.
• Lifting overseas aid to 0.7% GNI by 2020 - $4.8 billion over the forward estimates.
• Increasing the amount available to the Clean Energy Finance Corporation to $3 billion a year for 10 years.
• Providing $3 billion to house the homeless.
• Boosting funding to Regional Arts by $10m over the forward estimates.