A drop in household income from rising bank interest rates further demonstrates the need for an excess profits tax, the Green Party says.

The Green Party has today put forward proposals to ensure large corporations profiteering from high inflation are taxed fairly and the money used to support people to make ends meet.

The high rate of inflation continues to show why we must design a fairer tax system that addresses inequality, the Green Party says. 

Evidence that shows Aotearoa has one of the worst tax systems in the world for reducing inequality needs urgent attention, the Green Party says. 

The Conservative Party in the UK has ditched its inflationary tax cuts, and the National Party should do the same. 

A new report out today provides all evidence the Government needs to start addressing runaway inequality and rebalance Aotearoa to work for everyone.

What the Government should now do is reverse the cuts the National Party Government made to KiwiSaver incentives, the Green Party says.

Action is needed to address the inequality crisis and support New Zealanders on the lowest incomes, the Green Party says.

The Green Party is again calling on the Government to review the economic response to COVID-19, as the Reserve Bank of New Zealand puts up the Official Cash Rate today to 2 percent.

Mr Speaker, It has taken four-and-a-half years to even start to turn the legacy of inaction and neglect from the last time they were in Government together. And we have a long journey in front of us!