A bold vision for South Australia

Today the South Australian Greens announce a bold vision for South Australia, a vision that will deliver a fairer future for all South Australians, not just the big end of town.

Fair Royalties for Mining Corporations

South Australia has been robbed of its mineral wealth. Over the last 4 years mining corporations have made over $25 billion in South Australia from mineral mining, petroleum and gas, and paid only 5% in royalties. Rather than going toward schools, hospitals and public infrastructure, billions of dollars went into the pockets of multinational mining corporations. The Greens believe there should be more money for schools and hospitals and less for mining billionaires.

The South Australian Greens will:

• Raise the refined mineral and mineral ore/concentrate royalty rates to 20% of the value of the resources;
• Raise the petroleum royalty rate to 25% of the wellhead value of the petroleum; and
• Raise an extra $3.8 billion over four years.

South Australian Big Bank Levy

Australian banks are some of the most profitable in the world. Over the last four years the five biggest banks have made $173 billion in pre-tax profits. The biggest banks get special protection from the government because they are seen as ‘too big to fail’, which amounts to a huge implicit subsidy.

The South Australian Greens will impose a State-based Big Bank Levy:

• The rate will be set at 0.05% per quarter (or 0.2% per year) and apply to South Australia’s share of a bank’s total liabilities subject to the Commonwealth’s Major Bank levy (Commonwealth Bank, Westpac, ANZ, NAB and Macquarie);
• The South Australian share of a bank’s total liabilities will be calculated using South Australia’s Gross State Product as a share of national GDP which is currently 5.5%; and
• Banks will be prohibited by law from passing on the cost of the levy directly to customers.

Make Them Pay - A 75% Developer Tax

When land is rezoned for a higher use, property developers make massive, windfall profits, but they don’t pay anything for the privilege. This is a massive giveaway of public wealth into private hands. The current system encourages corruption and backroom deals, and it makes property speculation worse, pushing up prices.

The South Australian Greens will a 75% Developer Tax:

• The rate tax will be applied to increases in land value due to re-zoning. Estimates show that would generate an extra $1.7 billion over four years to pay for more affordable housing, schools and hospitals;
• The tax would apply to any land which is re-zoned to a higher use and subsequently has a development application approved; and
• The amount of tax due would be assessed at the time the new development application is approved to capture the full increase in land value.

Free, publicly owned public transport

The South Australian Greens will bring the bus network back into public hands, reverse the Liberal’s privatisation of the train and tram network and Labor’s privatisation of buses. We will introduce free public transport across the network. 

The South Australian Greens will:

• scrap public transport fares and introduce free public transport at a cost of $433.4 million over four years;
• Bring the bus network back into public hands;
• Reverse the Liberal’s privatisation of the tram and train network; and
• Invest $1 billion to upgrade South Australia’s public transport network.

Bring back the South Australian Housing Trust

South Australia is in the middle of a full blown housing crisis. Adelaide is the 2nd least affordable city in Australia  when it comes to rental affordability while there are currently 16,000 people waiting for social housing in the state. Meanwhile the South Australian Government has made no commitment to build any new public housing.

The South Australian Greens will:

• Re-establish SAHT as a fully independent statutory authority responsible for housing and public infrastructure;
• Provide funding for SAHT to establish a universal public housing scheme building 40,000 quality public homes over four years, or 10,000 homes per year;
• Cap rents at 25% of income or market rent, whichever is lower, and give tenants a lifetime right to their home and the right to pass their home onto to their dependents;
• Create 10,000 thousand good construction jobs a year; and
• Eliminate the social housing waitlist and ensure every South Australian has a place to call home.

Publicly owned Renewable Energy

South Australia has a once in a generation opportunity to reverse the privatisation of our electricity system and become the renewable energy super power of Australia. As the cost of batteries, solar, and wind continue to drop, while new technology allows for grid stabilisation without the need for gas , now is the time for a massive public investment in renewable energy generation and storage.

The South Australian Greens will:

• Revive the Electricity Trust of South Australia as publicly owned generator, as well as sole retailer and network provider;
• Invest $8.7 billion over four years in 7125MW of publicly owned renewable energy and storage;
• Create 9,600 jobs a year installing and maintaining solar, wind and battery storage; and
• Set aside $2 billion of the investment to provide free solar and storage for 200,000 renters, social housing and low-income households.

Reverse electricity privatisation

South Australia has the most expensive electricity in the country because of privatisation. Since privatisation in 1999 electricity prices in South Australian have increased 216%. In comparison the cost of housing in Adelaide has increased by 99% in the same period. In other words electricity prices have grown more than twice as fast as the cost of housing.

Essential services like electricity should not be in private hands and run for profit. The Greens will save the average South Australian $409 on their yearly energy bills by reversing privatisation.

The South Australian Greens will:

• Revive the Electricity Trust of South Australia as the sole public retailer and network provider for South Australia’s electricity system;
• Phase out private electricity retailers over two years;
• Bring South Australia’s electricity distribution and transmission network back into public hands and under the control of ETSA;
• Establish ETSA as a statutory authority with a board comprised of at least two worker and consumer representatives; and
• Direct ETSA to run at cost, eliminating profit from the system and cutting the average bill by $409.