A capital gains tax on property speculators is urgently needed to rebalance the housing market, as the median nationwide house price rose to over half a million dollars today, the Green Party said. “New Zealand under National has become a housing speculator’s paradise, and normal working families are paying the price,” said Green Party Co-leader James Shaw. “A capital gains tax (excluding the family home) has to be at the centre of any plan to fix the housing crisis. It’s...

The Government needs to set a clear deadline for when all KiwiSaver providers should have divested from companies involved in the manufacture of cluster bombs, landmines, and nuclear weapons, the Green Party said today. Radio New Zealand today revealed that four default KiwiSaver providers — ANZ, Westpac, Kiwibank, and Mercer — continued to profit from investments in companies involved in the manufacture of cluster bombs, landmines, and nuclear weapons. Jacqui Dean, Minister for Commerce and Consumer Affairs, expects all KiwiSaver...

The National Government’s research and development (R&D) strategy has failed, with a lower proportion of businesses now engaging in R&D than when they took office, the Green Party said today. The Statistics NZ Business Operations Survey released today shows that in 2009, eight percent of businesses engaged in R&D. In 2016, that number had fallen to seven percent. Labour productivity data also out today tells a similar story, with labour productivity growth at its lowest levels, over the growth cycle,...

Today’s OECD environmental report has highlighted the urgent need for New Zealand to change direction and move to a low carbon, green economy, the Green Party said today. The OECD has said that New Zealand has the second-highest level of emissions per unit of GDP in the developed world. We also have the fifth-highest emissions per capita. “The New Zealand economy is highly carbon intensive and this can’t be sustained if we want to also play our part in addressing...

Today’s disappointing GDP numbers fail to capture what’s really going on in the New Zealand economy and with our day-to-day lives, the Green Party said today. Gross domestic product (GDP) statistics released today by Statistics New Zealand show that the official part of the New Zealand economy grew by 0.4 percent in the December 2016 quarter. Per capita GDP — a better reflection of people’s wellbeing — actually went backwards by 0.2 percent due to population increases. “GDP may be...

The rising cost of living is hitting people who earn modest incomes and beneficiaries hardest, the Green Party said today. Living costs for beneficiaries and low-spending households rose more than twice as much as for high-spending households in 2016, according to Statistics NZ’s Household Living Costs Price Index data. “Bill English says the economy is humming along nicely but the truth is that while people at the top might be doing well, thousands of families on lower incomes are feeling...

This year is our chance to turn the tide on growing inequality in New Zealand with a change of government, the Green Party said today. A report released this afternoon by Oxfam outlines the growing inequality gap around the world, and coincides with the World Economic Forum annual meeting in Davos. Oxfam New Zealand has released analysis of this afternoon’s report that shows two New Zealanders have more wealth than the poorest 30 per cent of the adult population. “This...

Finance Minister Steven Joyce is failing to show any moral or political leadership by continuing to allow Government-owned funds to invest New Zealanders’ money in some of the world’s most polluting companies, the Green Party said today. Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. “The National Government signed the Paris Agreement...

The National Government has failed to stop high income earners from avoiding paying their fair share of tax, the Green Party said today. IRD released aggregated tax data last week which shows a suspiciously high number of people last year declared their income just before the top tax rate threshold at $70,000. The (highlighted) spike is strong evidence of tax avoidance behaviour. (The lower spikes represent welfare and superannuation payments.) “National’s 2010 tax cuts for high income earners were sold...

The Government’s improving books give it scope to address the long-term deficits National has been running in health, housing, and the environment, the Green Party said today. The Treasury’s Half Year Economic and Fiscal Update, out today, forecasts the Crown’s fiscal position to steadily improve so that by June 2021, surpluses are expected to rise to $8.5 billion and net debt to reduce to 19 percent of GDP. “Treasury has signalled that the Government has scope to address the long-term...