2025 is an election year. This is the year when it will be revealed that Manna Gum has infiltrated its operatives into all the major political parties. When the election result is in you will see a host of the elected parliamentarians cast off their guise as inane twits and declare for Organised Manna Gum (OMG). While everyone else is still in shock at this coup-by-democracy, OMG will move rapidly to form government and begin solving everything.
What will be the policies of an OMG Government? Here's a sneek preview:
Ecological crisis
- End fossil fuel subsidies. In 2023–24, Australian governments provided $14.5 billion in subsidies to coal mines, oil and gas operations, and major fossil fuel users.
- Ban any new fossil fuel projects or upgrades, including those in the pipeline.
- Institute a carbon tax.
- Provide generous tax breaks, grants, and technical assistance to farmers seeking to transition to regenerative agriculture.
- Call together a National Cabinet with the states to rebuild the national recycling and circular economy sector.
Housing
- Scrap the capital gains tax discount on housing. This tax break attracts investors into the housing market who see it as a lucrative means to build wealth. Investors bid-up the price for home buyers.
- Call together a National Cabinet with the states to address housing issues, moving to scrap all stamp duties and move to a uniform, property value tax that incentivises matching house size to occupancy needs and penalises land speculation and land banking.
Source: The Australia Institute
Taxation
- Restore top income tax brackets to 2005 levels and reduce levels for the lowest two tax brackets.
- Remove all superannuation tax concessions. Last financial year, superannuation tax concessions (which go almost exclusively to high income earners) cost the government over $51 billion, almost as much as the age pension costs.
- Institute a progressive inheritance tax for all estates valued at $10m and over. Inheritance is the primary mechanism of rising inequality.
- Institute a financial activity tax—a tax on the sum of profits and executive remuneration packages—for large financial institutions.
- Increase the Petroleum Resources Rent Tax (PRRT) and close loopholes. Currently the government collects more money from students, nurses, and teachers than from the PRRT.
- Impose and increase royalties on all gas extracted in Australia. Currently more than half of Australia’s gas exports pay zero royalties.
Source: Victorian Council of Social Services comment on the 2023 Federal Budget.
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If you are interested to know more about the thinking behind any of these policies, drop us an email: jonathan@mannagum.org.au (or, if after the election, contact the Office of the Prime Minister).