Australia must support global billionaires’ tax


Australia must get on board with the global billionaires’ tax proposed at the G20 meeting, the Greens say.

“As the gulf between super-wealthy and everyday Australians widens, the need for fair tax policy grows every day,” Greens Economic Justice Spokesperson Senator Nick McKim said.

“The G20 proposal is for a 2% annual tax on the world's richest people, which would be the bare minimum, given the frightening pace at which they have accumulated wealth in recent years.”

“While billionaires have seen their fortunes more than double since the start of the pandemic, millions of Australians continue to grapple with the cost of living crisis.”

"Amid a backdrop of rising inequality and a climate crisis, the global tax on billionaires is a moral necessity.”

“The Greens have long advocated for making billionaires and big corporations pay their fair share, aiming to redirect wealth towards creating a society that values people over profit.”

“By supporting measures such as an annual wealth tax on billionaires, Australia can invest in essential services like healthcare, education, and social services, which have been eroded by years of neglect by the major parties.”