GDP figures show why Greens’ Income Guarantee is essential

As today’s GDP figures show that Aotearoa is in a technical recession, it’s clearer than ever that Aotearoa needs the Green Party’s Income Guarantee.

“We know that a recession will hit lower-income New Zealanders who spend the majority of their income covering the essentials like food and rent the hardest. The time is now to lift every single family out of poverty through our Income Guarantee and to pay for it with a fair tax system,” says the Green Party spokesperson for finance, Julie Anne Genter.

“Recessions hit low-income people hardest because they have smaller savings and tend to be in more precarious employment. Many of these people are the essential workers who shouldered the cost of getting through the pandemic, and are now carrying the bill for the recovery.

“And at the same time, 311 of Aotearoa’s wealthiest families control $85 billion in wealth and pay less than half the effective tax on their income than the average family.

“Our Income Guarantee means that no matter what happens, your income will never fall below $385 per week, after tax. For couples, our Income Guarantee will be at least $770, and a single parent will always have an income of at least $735.

“It also means that most people in paid employment will have extra money in their pockets by making the first $10k tax free.

“The Greens know it’s not okay to expect everyday people to pay the price of a slowing economy while the rich sit by and get richer.

“That’s why we have a plan to support everyone, whether they are in or out of work. And, we’re going to pay for it by collecting the resources we need from those most able to pay

“Only the Green Party is willing to lift every single family out of poverty and to pay for it with a fair tax system. The time is now,” says Julie Anne Genter.

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