Mana Party to Bring “Economic Justice” to NZ
October 28, 2011 New Zealand Taxation
The New Zealand Mana Party is aiming to equalize income inequalities in New Zealand through a series of new measures.
In a speech given in Auckland on October 27th the Manukau East Mana Party candidate John Minto said that the party is aiming to restore equality across the country.
John Minto claimed that within New Zealand there exists an extremely wealthy 1 percent of the population, while hundreds of thousands of children in the country live in poverty. In order to address the income inequalities the Mana Party promises to push for policies to increase the spending power of low income individuals.
The Mana Party proposes to cut all income taxes from the first NZD 27 000 of taxpayer earnings. The party would also pursue the abolishment of GST on all goods and services in New Zealand. John Minto pointed out that unlike other parties, Mana Party will not restrict GST cuts to only fresh fruits and vegetables. Additionally, the party would increase the minimum wage to NZD 15 per hour, and would peg the rate to two thirds of the national average wage rate.
In order to pay for the tax cuts the Mana Party will introduce a “Hone Heke” tax on speculative financial transactions. Commenting on the possibility of the tax, John Minto said, “…every year in New Zealand we have trillions, I think last year it was $93 trillion, in speculation with money coming in and out of the country, speculating on the New Zealand dollar,” and he continued to say “… a very tiny percentage of that would enable us to get rid of GST altogether. And it would have the advantage also of helping to stabilise the New Zealand dollar.”
Photo by Mark Lincoln