The RBA’s belated acknowledgement of corporate price gouging under the cover of inflation should prompt the Labor Government to introduce a super profits tax, the Greens say.
“We welcome Governor Michele Bullock’s recognition of what has been painfully clear to Australians for a long time now – corporations are gouging consumers,” Greens Economic Justice Spokesperson Senator Nick McKim said.
“For too long, corporations, particularly those with little or no competition, have used the excuse of inflation to jack up their prices and boost their own bottom lines.”
“This is disgraceful behaviour and it needs to stop.”
“Labor needs to stop running interference for its corporate mates, introduce a super profits tax and use the revenue to pay for genuine cost of living relief like putting dental and mental health into Medicare.”