SCHOOLS, hospitals and roads in the Federal electorate of Swan will lose about $2000 in funding according to UnionsWA Secretary Meredith Hammat.
A UnionsWA analysis of the Federal Government’s taxation measures showed the tax cut for big banks equated about $124.4 million that would not go to Federal Government funded services in Victoria Park, Belmont, Swan and South Perth.
Ms Hammat said at a time when local schools, hospitals, public transport and roads needed more not less funding, the Federal Government was seeking to legislate tax breaks for big banks.
“For every home in the Swan electorate those tax breaks for the big banks amount to $2,048 less for Federal Government funded services as estimated by The Australia Institute,” she said.
“At the same time big banks have gone from scandal to scandal with revelations at the Banking Royal Commission.
“The Royal Commission has heard from vulnerable people and small businesses that have been the victim of unlawful and unethical practices by the big banks.
“It beggars belief that the big banks would be rewarded with a tax gift that nationally will cost $17 billion.”