Better taxes mean funding what matters by ensuring the wealthiest and big corporates pay their fair share to build better lives for everyone in Aotearoa New Zealand.
Income Wealth and Tax at the Top: Bridging bespoke wealth surveys and Distributional National Accounts in New Zealand
Globally renowned economist Thomas Piketty has endorsed our new research report that shows the very wealthy paid less than half the tax rate of the median-wealth New Zealander (8.1%: 17.4%), costing New Zealand billions in foregone revenue and increasing wealth inequality.
The wealthiest Kiwis pay just 9% in tax while middle New Zealanders pay just over 20%. That’s because income generated by owning and selling assets isn’t taxed the same as wages and salaries.
Multi-nationals are shifting their super profits offshore to avoid paying the tax they owe. Large corporations (like supermarkets and banks) make excessive profits, while ordinary people struggle with the cost of living.
Our broken tax system currently pushes our resources into housing speculation instead of productive businesses, jobs and rebuilding our public services.
To strengthen our economy, we need to gather more revenue from those most able to to pay, to tackle inequality and improve living standards for everyone.
New Zealand isn’t collecting enough revenue to address the challenges we face in providing public services and infrastructure, addressing inequality and poverty, responding to environmental degradation and climate change.
Underfunding has left 100,000s without a GP, and long waits in emergency departments. Underfunding is crushing schools with leaky buildings, hungry tamariki, low pay for teachers, and not enough support for kids struggling with maths and literacy. Underfunding means burst pipes, potholed roads and broken-down public transport.
Our tax system asks a lot of those who can least afford it, and not enough from those who can. Hardworking people are struggling to provide the basics for their families, while big corporates and the super rich are getting richer from our collective resources without paying their fair share to maintain them.
Better taxes mean more revenue to rebuild and resource our hospitals, schools, housing, infrastructure, and climate resilience.
Better taxes requires those who can most afford it - big corporates and the super rich - to contribute the most, so everyone pays their fair share to replenish our collective pool.
Better taxes shift our resources away from property speculation and harmful industries, into productive businesses and public services, providing jobs and lifting living standards for everyone.
Make sure you’re enrolled to vote and back parties that champion better taxes.
