Click here for our 2020 Election Progressive Tax Reform Policy
A Green economy is about better quality of life for people and the planet. Economic success is intertwined with environmental and human wellbeing.
Success should be measured by human and environmental wellbeing
- A sustainable economy operates within the limits set by the natural environment and ensures just living standards for all people.
- Government and businesses should measure and report on social, environmental, and economic indicators including gender equity.
The tax system should be progressive, comprehensive, and encourage sustainability
- A broad-based tax system should include taxes on personal and business income, consumption and expenditure, pollution, and environmental resource use.
- People with the least ability to pay tax should pay the least as a proportion of their income, while those who can pay more should do so to contribute to the welfare of society.
- Taxes should discourage speculative investment in non-productive assets. A capital gains tax should be applied to property investment, excluding family homes.
- Ecological tax reform should shift taxes away from income and enterprise and towards resource use, waste, and pollution.
- Internationally, Aotearoa New Zealand should actively work to develop a financial transactions tax.
Local jobs, products, businesses, and the Maori economy should be supported
- Government should ensure urban and rural areas have access to high quality infrastructure including transport and broadband networks.
- Government should actively support Buy Kiwi Made, including through procurement.
- Barriers to sustainable development on Maori land should be removed and the banking system should ensure access to capital for Maori economic development.
Government should take an active role in the economy
- Government should actively support sustainable industries and collaborate with the private sector to increase productivity and wages, fund research and development, reduce environmental damage, and grow the value of exports.
- State owned enterprises should be utilised as strategic assets to support economic success and human and environmental wellbeing.
- Government investment funds should invest ethically.
Financial markets should be regulated to serve New Zealanders’ interests
- The regulatory environment should encourage credit unions, community banking, and other localised economic structures.
- Private saving should be encouraged, including through Kiwisaver.
- The financial sector should be well-regulated to ensure stability and fairness, and people should have access to easily understandable explanations of financial products and services.
Monetary policy should promote stability and contribute to quality of life
- The Reserve Bank should consider inflation, employment, and external balance of trade issues when setting monetary policy. It should have access to a range of tools.
- Official Cash Rate decisions should be made by a group of accountable experts, not solely the Reserve Bank Governor.
- The Reserve Bank Act and the Public Finance Act should require frequent reporting on how monetary and fiscal policy is being coordinated.
