Forget the ‘cost of greed budget’, this is the $10,000-per-household cost of Green

Forget the ‘cost of greed budget’, this is the $10,000-per-household cost of Green

The Green Party accidentally leaked its $22.6 billion tax grab plan. This is a prescription for a poorer New Zealand, with the proposed new taxes amounting to $10,141 per household in the first four years alone.

Taxpayers’ Union spokesman James Ross said:

“The Greens call this a plan for fairness. At $10,141 per household, New Zealanders might have a different word for it.”

“The entire package only works if wealth taxes raise $15.8 billion over four years, but the Greens haven’t even bothered taking behavioural changes into account. That is bananas when international evidence points to capital flight and the very people New Zealand needs to grow the pie leaving. Who does Chlöe Swarbrick want to pick up the slack when her tax plans fall short?”

“The same goes for the income tax changes. The 5 percent of people earning over $160,000 already pay more than 30 percent of all income tax, at a rate nearly 40 percent higher than the average taxpayer. Squeezing them harder won’t keep them in New Zealand, but it will strangle growth.”

“Reintroducing Labour’s Tenant Tax will push rents up, and hitting groceries, energy, and banking with new costs will drive up the prices of household essentials.”

“Chlöe Swarbrick might claim this is about tackling the cost-of-living crisis, but strip out the populist talking points and it’s a cost-hiking tax grab like any other.”