Greens MP Adam Bandt has suggested his party will only support tax cuts specifically targeted at very low income earners and might block Labor’s proposed cuts.

The government has introduced its seven-year income tax plan into parliament, while Labor has proposed a separate proposal which offers cuts to low and middle income workers — the Greens won’t be supporting any income tax reductions.

The income tax cut plan worth $140 billion over a decade was the centrepiece of this month’s federal budget and will start with a reduction of up to $530 for low and middle-income earners.