Steph Hodgins-May (Victoria, Australian Greens) Share this | Hansard source

What a time to be alive in Australia! While ordinary people across the country struggle with skyrocketing prices and unlimited rent increases and can't afford to see the dentist or send their kids to child care, the total wealth of Australia's 150 billionaires more than doubled between 2018 and 2024. The Labor and Liberal parties have created and continue to uphold an economic system that allows Gina Rinehart to have $40.6 billion in wealth while others have to choose between paying the rent and getting enough food on the table.

I can tell you why the two-party system is dying in this country. It's because both Labor and the Liberals are under the thumb of billionaires and their big corporations, taking millions in dodgy donations, private jet flights and prime-ministerial photo ops without even an ounce of shame or self-awareness, propping up a system that allows the richest 150 billionaires to increase their wealth faster than they can count while leaving thousands in poverty. It's disgraceful. I'm not surprised that this would happen under the Liberals—but the Labor Party? Come on, comrades. Your forefathers would be embarrassed to see you sitting over there on the government benches, responsible for such a grotesquely unfair economic system that doesn't work for people. It works for the top end of town and the major party donors.

Billionaires should pay their fair share of tax. How on earth is this a position that the major parties can oppose? The revenue should be used to make sure that everyone can access the services and essentials that they need—affordable housing, health care and early childhood education. The Greens will make billionaires pay their fair share of tax by imposing a 10 per cent annual tax on the net wealth of Australia's 150 billionaires, with a 10 per cent limit on capital flight in any year. We will make Gina and Clive pay their fair share of tax so you can fix your teeth, but you're going to have to vote for it.