The Green Party is calling on the Government to tax the super wealthy as inflation, largely driven by continued increases in the cost of essentials like food and housing, persists.
“Inflation hits lower-income families the hardest, who spend the majority of their income covering the essentials like food and rent. Wealth and income inequality in this country is a political choice. The Government needs to act,” says Green Party revenue spokesperson Chlöe Swarbrick.
“The solution is taxing wealth and excess profits and using that money to help people. This makes the most sense in the context of the approximately trillion-dollar wealth transfer to the wealthiest throughout COVID-19.
“Last year the Reserve Bank admitted in response to my questioning that they are engineering a recession to try and rein in inflation.
“We know this will disproportionately impact low income people in Aotearoa. It doesn’t have to be like this. This is only happening because the Government isn't acting.
“Reducing government spending on essential public services would be a mistake at a time when we know our crucial infrastructure across health, housing, education, the environment, and transport desperately needs investment.
“Instead of relying on the Reserve Bank to use blunt monetary policy like raising the OCR, or manufacturing a recession, the Government can tax the super wealthy.
“Instead of allowing trickle-down economic thinking to drive economic policy that perversely pushes people out of work, the Government can tax the rich and build a fairer society,” says Chlöe Swarbrick.