Executive pay survey shows need for action on inequality

New data that shows business executives received 12 percent pay rises last year, on average, while over 40 percent of all working people received no pay rise at all shows we need action to rebalance our economy, the Green Party said.*

“The evidence is clear that economic inequality creates serious social issues – but we can address these issues by taxing the highest earners a bit more. They can afford it,” Green Party workplace relations spokesperson Denise Roche said.

“When the gap between top and bottom incomes is contributing to social problems getting worse, then there’s a strong case for the Government to step in to rebalance our economy.

“Many working families are really doing it tough with rising housing costs, while CEOs earn enough to buy a new house in Auckland every year.

“As well as raising taxes on the highest earners, the Government can do practical things like requiring large, publicly listed companies to report the gap between their highest paid and lowest paid staff. That way CEOs will have to justify their own huge pay rises to their staff and the public.

“CEOs don’t make businesses successful all by themselves. If they’re getting double-digit pay rises because their business is doing well, then the people working for them deserve double-digit pay rises too.

“It hasn’t always been this bad, but the difference between CEO and worker pay has been growing for decades under successive governments. Shining a light on this growing gap can help build pressure to close it,” said Ms Roche.

 

*The most recent Labour Cost Index shows that 43 percent of working people did not get a wage or salary increase from March 2015 to March 2016 (Table 6.2).

Latest Finance Announcements

Story

Economic windfall should be funnelled straight back into communities: Green Party

Following an economic forecast that shows Aotearoa strongly rebounding from COVID-19, and Crown accounts looking much healthier than expected, the ...
Read More

Story

Green Party to abstain from tax changes that will worsen house crisis in absence of tax on assets

The Green Party will abstain from a bill that will make slight changes to income tax brackets.
Read More

Story

Green Party welcome Adrian Orr’s full and frank advice on tax

We welcome Adrian Orr signalling that he will provide advice to the Finance Minister on fiscal measures, include tax changes, to cool the housing m...
Read More

Story

Green Party respond to Government review of housing settings

It is a positive step that the Government is looking at options to take the heat out of the housing market, and has written to the Reserve Bank to ...
Read More

Story

Reserve Bank policies will inevitably heat housing market, Government must implement tax reform to cool it down

The Government must use levers to prevent further over-heating of the housing market, which will result from the Reserve Bank pumping another $28 b...
Read More

Story

No surprise in National’s latest attempt to slash public services

National’s ‘alternative budget’ that includes huge cuts to the government’s operating allowance would risk gutting critical public services, and pu...
Read More

Latest Workplace Relations and Safety Announcements

Story

Government should fix COVID-19 leave loophole before summer seasonal work starts

Green Party Spokesperson for Workplace Relations Jan Logie is calling on the Government to extend the COVID-19 Leave Support Scheme to anyone await...
Read More

Story

Greens call for decent working conditions for all horticulture workers

The Green Party is calling on the Government to ensure all people working in horticulture are paid liveable wages and have access to quality accomm...
Read More

Story

Auckland COVID-19 case shows need for extended sick leave before busy Christmas period

The case of an Auckland city worker heading to work with COVID-19 symptoms shows the need for urgent extended sick leave, Green Party Workplace Rel...
Read More

Story

Greens welcome commitment to sick leave extension

The Green Party has welcomed the Government’s commitment to introduce legislation to extend statutory minimum paid sick leave to ten days before th...
Read More

Story

National’s economic plan a cruel blow for those on low incomes

The Green Party says National’s economic plan would devastate those earning the least, and further entrench poverty across our communities.
Read More

Story

Green Party will work next term with Labour to quickly implement Fair Pay Agreements and extended sick leave

The Green Party welcome Labour committing to implement fair pay agreements and extended sick leave for workers in the next term of Government.
Read More