The Green Party is welcoming the Government’s announcement that bank deposits up to $100,000 will be protected under new rules.

The Government’s housing announcement is a very small start but it doesn’t go far enough to genuinely meet the scale of the crisis.

The Green Party is calling for bold, transformational measures to stop the accelerating housing crisis that is locking New Zealanders out of a stable home.

Government data today shows that the wealthiest New Zealanders aren’t paying their fair share of tax, whilst everyone else chips in, Green Party spokesperson on Finance Julie Anne Genter said today.

Following an economic forecast that shows Aotearoa strongly rebounding from COVID-19, and Crown accounts looking much healthier than expected, the Government should seriously consider taking the lead on economic stimulus and provide cash injection that will help keep New Zealanders afloat.

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

We welcome Adrian Orr signalling that he will provide advice to the Finance Minister on fiscal measures, include tax changes, to cool the housing market, Green Party Finance spokesperson Julie Anne Genter said today. 

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 that effect, but they must be open to using all the tools available to them, Green Party Co-leader and spokesperson on Housing Marama Davidson said today.

The Government must use levers to prevent further over-heating of the housing market, which will result from the Reserve Bank pumping another $28 billion into the economy in the form of cheap loans to banks.