Australia’s Greens party has urged the Labor government to deliver a federal budget focused on easing pressure on ordinary households rather than protecting corporate profits and wealthy investors, as rising living costs, housing pressures and inflation continue to strain millions of Australians.
The Greens warned that the upcoming budget could become a defining moment for Prime Minister Anthony Albanese and Treasurer Jim Chalmers, arguing that public trust in government risks further erosion if major corporations continue to avoid stronger taxation while social programs face cuts.
According to Senator Larissa Waters, Leader of the Australian Greens, “This budget will determine this Labor government’s legacy: will they continue to deliver for the corporations driving inflation and ripping us all off?”
“Will they continue to let gas exporters and big corporations pay no tax, to funnel billions into defence, while cutting services for disabled people, hurting renters and abandoning people who need it most?
” If the government works with the Greens to tax corporations making obscene windfall profits, and then invests in the things we all need to live a good life, it will show millions of people that Parliament can improve their lives.”
Larissa Waters
The party said the economic fallout from conflict in the Middle East had intensified inflationary pressures and widened inequality, placing greater strain on renters, mortgage holders, and vulnerable Australians.
In light of this, the Greens denounced Labor’s management of the National Disability Insurance Scheme, calling the proposed cuts the biggest government program cut this century.
According to the Greens, the government could avoid such reductions by imposing higher taxes on gas exporters benefiting from soaring global energy prices. The party proposed a 25 per cent tax on gas exports, claiming the measure could raise about $17 billion while also encouraging more domestic supply and easing pressure on local gas prices.
The debate has also reignited long-running disputes over tax concessions for wealthy property investors. The Greens have renewed calls for reforms to negative gearing and capital gains tax discounts, arguing that the current system continues to fuel rising house prices and deepen Australia’s housing affordability crisis.
The Greens further criticised Labor’s continued commitment to the AUKUS defence pact, saying billions allocated to submarines and military spending should instead be directed toward public housing, electrification projects, healthcare, and broader cost-of-living relief.
Greens Intensify Pressure on Labor Over Housing and Bank Profits
Moreover, Australia’s Greens party has intensified calls for sweeping tax and housing reforms, arguing that renters and mortgage holders are carrying the burden of inflation while major corporations, banks, and wealthy investors continue to benefit from government policy settings.
According to the Australian Greens, Labor has failed to address the structural causes of inequality and risks worsening public anger over housing affordability and rising household costs.
The Greens contend that tax breaks for real estate investors, such as negative gearing and capital gains tax cuts, are at the heart of the controversy and have fuelled skyrocketing home prices during both Albanese administrations. The party said that while home ownership is becoming more and more out of reach for younger Australians, the existing system disproportionately benefits rich investors.
Senator Nick McKim, Greens spokesperson for Economic Justice, stated that, “The Greens have consistently called for property investor tax breaks to be reined in, and Labor now has a once-in-a-generation opportunity for genuine progressive tax reform.”
“Labor should have reformed negative gearing and the CGT discount years ago, but thanks to their refusal to listen to sense, we’ve seen runaway house prices continue during both terms of the Albanese government.”
Nick Mckim
He added, “everyday people are not responsible for the war, but Labor supported it, and now people are footing the bill with higher prices and successive interest rate rises.”
The Greens have also targeted Australia’s banking industry, accusing big banks of profiting from rising interest rates and inflation as consumers suffer from rising rent and mortgage payments.
According to Senator Barbara Pocock, Greens spokesperson for Finance, Housing & Homelessness, “Renters and mortgage holders are on the front line to fight inflation while Labor delivers massive profits to the banks.”
“People know when the system is working for the 1% and big corporations and not for the rest of us. For decades the major banks have made enormous profits price-gouging on people’s mortgages, contributing to the pain of inflation. Labor needs to tax the banks, not hardworking people.”
Barbara Pocock
The Greens argued that the government should prioritise ambitious tax reform, public housing investment and targeted support for renters rather than maintaining policies they say disproportionately benefit corporations and high-income earners.
