Finance

Australian deserve a financial system that works for them, especially as the cost of living rises.

Successive Liberal and Labor governments have allowed public money to be funnelled into the hands of private interests. This has happened due to over-reliance on expensive consulting firms, weak regulation and corporate tax loopholes.

Unlike Labor and the Liberals, the Greens are committed to breaking this cycle of corporate influence. 

We can ensure transparency, fairness, and accountability by reforming how public funds are managed and spent. That means addressing conflicts of interest, ending the influence of political donations, and restoring trust in how taxpayer money is used.

Our plan will ensure that the government acts in the community's interests—that every dollar of public money is spent on making life better for everyone, from delivering essential services to tackling the cost-of-living crisis head-on.

Explore our Plan

Regulating and reforming the consulting sector

The Big Four consulting firms—PwC, KPMG, EY, and Deloitte—have an outsized influence on Australia's economy and government.

Labor and the Liberals have allowed this dominance to grow unchecked, giving these firms lucrative contracts while failing to address their conflicts of interest and lack of transparency.

The Greens are committed to ending this cosy relationship between major parties and big consulting firms.

The Greens' plan:

  •  Cap accounting firm partnerships at 100 members to break up monopolistic practices and foster greater competition and transparency in the industry.
  • Require consulting firms to provide either audit or non-audit services to clients, eliminating conflicts of interest and ensuring higher audit quality and public trust.
  • Establish an independent consulting regulator to enforce ethical standards, maintain a professional register, and impose penalties for misconduct, strengthening oversight and accountability in the sector.
End conflicts of interest

We need a government that acts in our interests, not the interests of big consulting firms. 

Successive Liberal and Labor governments have handed billions to the Big Four while gutting the public service. The Morrison Government outsourced $20.8 billion worth of work to the private sector, equivalent to almost 54,000 public service jobs in 2021-22 alone.

The revolving door between government employment and private consulting firms, paired with millions in political donations, has created a system where corporate profits take priority over public needs.

The Greens' plan:

  • Prevent undue influence on government decisions by banning political donations from companies for 12 months before and after any government contract tender or application.
  • Curb conflicts of interest by introducing a one-year cooling-off period to stop the revolving door of employment between government and consulting executives.
  • Ensure transparency and accountability by requiring government departments to publish consultant reports by default, guaranteeing value for taxpayer money.

 

More information on this policy initiative will be released soon.

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