Australia's building and construction union is calling on the federal government to introduce a new tax on exorbitant company profits. 9News
"Profit should only be sufficient to motivate private enterprise to do what it does. The rest is inefficiency.
"In Australia, we have allowed a whole lot of very cosy monopolies and oligopolies to develop, so that inefficiency exists in all sorts of areas and we are not just talking mining: four big banks, the big supermarkets, the big telcos, aviation, the list goes on." The CFMEU will launch a years-long advertising campaign to push for the tax and will also take the policy to the ALP conference next month in the hope the federal government will adopt it.
The Greens, who are refusing to back the government's signature housing policy over concerns it won't fix the housing shortfall, welcomed the CFMEU's push."This bold plan from the CFMEU is a brilliant example of the scale and ambition that we need to deal with the rapidly worsening housing crisis," Greens housing spokesperson Max Chandler-Mather said.
"Labor should listen to the union, the Greens and housing experts and produce a plan that will actually start to tackle the scale of the crisis."to receive our daily newsletters and breaking news alerts, sent straight to your inbox.
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