Bigger surplus means we can end poverty, clean up our rivers, and tackle climate change

A bigger surplus will allow a new government to manage the economy responsibly while making the changes people know are needed, like lifting kids out of poverty, cleaning up our rivers, solving the housing crisis, and tackling climate change, the Green Party said today.

The Pre-Election Fiscal Update (PREFU) released today shows stronger growth in the short term, resulting in a higher than forecast surplus for the government this year by $2.1 billion. However, forecast productivity growth remains weak and will undermine our longer term economic prospects, resulting in lower long-term growth.

“It’s clear now after the opening of the books that there is more money available in the short term, and we’ll be taking a good look at the best way to invest that in our priorities of ending poverty, cleaning up our rivers, and tackling climate change,” said Green Party Co-leader James Shaw.

“We can manage the economy responsibly and use the bigger surplus to improve the lives of New Zealanders by building more homes, lifting incomes, and providing free public transport for young people.

“Further tax cuts from National, before they’ve even restarted payments to the New Zealand Superannuation Fund, would smack of desperation and highlight how they’re more interested in staying in power rather than managing the economy for the long term.

“We will deliver modest tax cuts for everyone earning less than $150,000, as part of our family incomes package, lifting hundreds of thousands of kids out of poverty, and making everyone who earns less than $150,000 better off than they are now.

“Free buses and trains, including school buses for kids and teenagers, will make a much bigger difference to family budgets than another tax cut.

“Free public transport would save some families hundreds of dollars a week while addressing high levels of congestion on our roads.

“After nine years, National have gone stale and are unwilling to make the changes people know are needed, like lifting kids out of poverty, cleaning up our rivers, building more homes, and tackling climate change.

“No child should go to school hungry, especially when times are good. We’re going to fix that,” said Mr Shaw.

Latest Finance Announcements

Story

Budget 2022: James Shaw Budget Speech

CHECK AGAINST DELIVERY Mr Speaker, It has taken four-and-a-half years to even start to turn the legacy of inaction and neglect from the last time t...
Read More

Story

Rising household costs hurting low-income people

The Green Party says the Government needs to do more for those on the lowest incomes as inflation outpaces wage and benefit increases.
Read More

Story

Greens call for urgent action to fix tax system

The Green Party is urging the Government to take urgent action to create a fairer tax system that works for all New Zealanders.
Read More

Story

Urgent action needed to soften inflation blow for low income NZers

The Green Party says urgent action is needed to soften the blow of inflation for New Zealanders on the lowest incomes.
Read More

Story

Liveable incomes and rent controls, now

Stats NZ’s monthly rental and food price indexes released today continue to show that over the last 12 months the essentials have gotten increasing...
Read More

Story

Greens write to PM to call for rent controls

The Green Party has published an open letter to the Prime Minister calling for an immediate rent freeze and for that to remain in place until rent ...
Read More