22 January 2026
A push to tax the banks and big corporations to build more public housing is the centrepiece of a suite of SA Greens revenue measures announced today.
Key points:
- The Greens would impose a State-based Big Bank Levy, similar to the one proposed by Labor in 2017, at a rate of 0.1% of total liabilities per quarter on the five biggest banks operating in South Australia to raise approximately $2.5 billion over four years.
- The Greens would raise the refined mineral and mineral ore concentrate royalty rates to 20% (up from 3.5% and 5%) and raise the petroleum royalty rate to 25% (up from 10%), raising an extra $7.44 billion over four years.
- The Greens have also identified a range of other revenue and potential savings measures, including a levy on long-term vacant property, scrapping the over $100 million in subsidies for fossil fuel companies and dumping the controversial $50 million LIV Golf Course expansion.
- The party estimates the measures could raise over $14 billion - enough money to cover the party's ambitious housing plans.
- Last year, the Greens announced plans to build 20,000 public homes and establish a public builder at a cost of $6.7 billion. The Greens have announced a range of other measures to expand and improve public services.
Quotes attributable to Robert Simms MLC
“Budgets are about choices, and the Greens are putting a range of revenue measures on the table that should be considered by the future government.”
"Just last financial year, the big banks made over $48 billion in profit and mining corporations are projected to make over $11 billion this financial year off the resources owned by the people of our state."
“It's outrageous that rather than going toward housing, public transport, and other essential services, billions of dollars are going into the pockets of the big banks and multinational mining corporations.”
“The Greens would bring back the State-based Big Bank Levy that Labor abandoned back in 2017 and make mining corporations finally pay their fair share so that we can build the public homes we need to eliminate the social housing waitlist and ease the pressure across the whole housing market.”
The Greens will announce further revenue measures in the lead up to the election.