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Australian Greens’ Leader calls for big biz tax to bolster nation’s recovery

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Minister Adam Bandt is pushing for profit-making corporations to spend their extra dollars on helping those who are doing it tough.

Greens’ leader Adam Bandt calls for “super-profits” tax

The Australian Greens continue to put big corporations under the microscope, with the party pushing Labor to adopt a new 40 percent tax on the “super-profits” of big business.

Coined the tale of two pandemics, big corporations are making millions while small to medium-sized businesses are on the brink of bankruptcy.

Throughout the course of the pandemic, three mining corporations made $65 billion in profits between them while Harvey Norman increased their profits by 75 percent.

That’s why Greens’ Leader Adam Bandt is pushing for big profit-making corporations to pay more tax in a bid to equalise to the nation.

“During the pandemic, a lot of people have done it really, really tough and we’ve had millions of people lose their incomes,” Bandt says.

“[Meanwhile] big corporations and billionaires have been making out like bandits.”

If this tax was to come into play, Bandt says money owed would go towards including dental and mental health into Medicare while building more affordable housing.

The proposal would only apply to company’s who have a turnover of $100 million, with a focus placed on the mining sector.

Going in a different direction

While the government has previously acted on expert advice to endorse a super profits tax, the Greens plan to take a different approach.

“Some of the big giants like Apple are making huge profits in Australia, but are engaging in complex legal schemes which means that their profits go offshore,” Bandt says.

“We would instead capture the tax on the activity of those big multinationals here in Australia.”

The Greens’ minister says Australia should rely heavily on the profits of big corporations to kick-start the nation’s recovery, especially with many gaining political ground.

Additionally, big corporations are paying labor and liberal governments in donations to avoid paying tax, with Bandt saying the extra cash should be splashed on giving back to the Australian people.

“I think people would rather Clive Palmer send them less texts, and instead pay a bit more tax.”

Bandt’s view on Newscorp’s climate announcement

Moving onto the ongoing climate emergency, Bandt says Newscorp’s latest announcement to end its long standing editorial hostility towards carbon reduction policies and hit net zero emissions by 2050, comes little too late.

A call to action is now in place for more to be done by the news company by 2030, a deadline which was set by scientists.

“If we don’t take action before 2030 then what we do in the decades after may not matter because we will have missed the window of reining in unstoppable climate change.”

The United Nations is calling on Australia to drop the use of coal by 2030, a position heavily supported by the Greens who aim to turn this into legislation.

“That’s what Labour, Liberal and Murdoch need to get behind because by 2050, it could well be too late.”

Written by Rebecca Borg

Climate

When will Australia’s PM commit to net-zero?

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Australian Prime Minister Scott Morrison with US President Biden standing with coal

COP-26 climate summit is just days away, but Australia’s PM Scott Morrison is yet to cement the nation’s net-zero targets

A decision expected by the week’s end

Morrison says there are still a lot of things to work through and the impacts of the world’s response to climate change will inevitably have an impact on regional and rural Australians.

Morrison promises residents can trust his government to “do the right thing” and do what it needs to do to achieve the desired climate change response whilst also protecting jobs and people’s livelihoods.

The PM is committed to embracing new technologies to move towards a more sustainable economy, keeping industries forging ahead.

We spoke to Australian Senator Sarah Hanson-Young earlier today and asked what she expects the federal government’s net-zero plan will be.

Meanwhile, former Australian Prime Minister Malcolm Turnbull says the world is in a climate catastrophe and we need to act.

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Climate

Leaders convene for the ‘Global Race To Zero Summit’ | ticker VIEWS

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As the global climate conversation heats up, leader’s prepare to convene in a month of historical talks

On Ticker News this week, Holly Stearnes and Scott Hamilton spoke with the Chief Executive of the Smart Energy Council, John Grimes. We delve into the Global Race To Zero Summit on 20-21 October.

The virtual summit will host thirty climate action leaders from around the world, giving all global perspectives. 

Climate change conversation

Global warming and climate change has been an ongoing conversation for world leaders for decades. However, it’s not until now that the conversation has reached a boiling point.

The climate scientists have said there is no more time, no more political debates, serious action needs to be taken now.

In Australia, Former Prime Minister John Howard committed Australia to put a trading emissions trading scheme.

 ‘Stabilising atmospheric concentrations of greenhouse gases will be difficult, but not impossible. We do not have to sacrifice our economic prosperity to tackle the problem.”

Former Australian Prime Minister John Howard

“I will also be announcing a ‘cap and trade emissions trading system that will help Australia substantially lower our domestic greenhouse gas emissions at the lowest cost.” 

Former Australian Prime Minister John Howard

“Sadly, Australia and leaders around the world failed to heed these warnings. Global greenhouse emissions have continued to sky-rocket and we are now experiencing the existential threat of dangerous climate change.”

– Scott Hamilton, Ticker CLIMATE

However, as long as the climate debate has continued, there are always two sides to the argument. The things that are most damaging to our planet, also financially and economically support thousands of people and livelihoods.

Climate Wars

As the COP-26 climate event approaches at a rapid pace, Australian lawmakers are struggling to reach an agreement over net-zero targets. The Nationals have continued to withhold their support for a net-zero plan.

As the world transitions away from coal, Australia seems reluctant to consider a future without it. Country coal towns and the Australian economy rely heavily on the coal industry. However, it is crucial that Australia now paves its way in a new direction.

The coal industry gives thousands of Australians jobs, but when the rest of the world moves away from coal, Australia’s exporting opportunities will no longer be there.

That’s why it’s essential to create a plan, so people are not left in dead-end industries and we’re in line with the rest of the world in tackling climate change.

John Grimes is the Chief Executive of the Smart Energy Council, the independent, not-for-profit body for the Australian smart energy industry thinks the Morrison will be dragged “kicking and screaming” to committing to net-zero target by 2050 at the upcoming COP26 in Glasgow.

“That’s [net-zero by 2050] is the bare minimum.”

– John Grimes, CEO, Smart Energy Council

https://twitter.com/TurnbullMalcolm/status/1449216364242112516

Global Race To Zero Summit

This will be one of the biggest virtual climate events in 2021.

The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens, and companies.

Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.

Insert video promo: Global Race to Zero Summit – We Demand Change

Register here for free: https://t.co/3X4J0UdMag

https://twitter.com/StarScientific_/status/1448517960096628739

https://twitter.com/SDHamiltonVIC/status/1449547035288358914

 

Watch the full episode here: https://tickeroriginals.co/2021/10/18/the-race-to-zero/

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Climate

Duke and Duchess of Cambridge attend first Earthshot Prize awards

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The Duke and Duchess of Cambridge were among a number of high-profile individuals who attended the very first Earth shot Prize awards ceremony

Started by Prince William, the idea behind the event is to celebrate those who are trying to save the planet from global warming.

There will be five winners in total, with each person receiving a grant of 1-million-pounds.

Other stars including Emma Watson, Emma Thompson and Mo Salah are handing out awards.

Meanwhile, celebrities were asked to refrain from flying from the event, and guests were asked to “consider the environment” when choosing an outfit.

The Earthshot prize is a nod to the “Moonshot” ambition of America, whereby John F Kennedy wanted to send a man to the moon within a decade.

Climate activist, Sir David Attenborough is also a council member for Earthshot and gave his remarks

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