New Tax Report Fuels Criticism of National Party's Fiscal Policy

Chlöe Swarbrick criticized Nicola Willis's stance on tax policy following the release of a new report. The report found that between 2021 and 2024, the very wealthy paid an effective tax rate of 8.1 per cent, which is less than half the 17.4 per cent paid by a middle New Zealander. Swarbrick argued that the current system allows the wealthiest families to pay less tax while driving up the cost of living for regular people.

The report indicates that the top 10 per cent own about 68 per cent of New Zealand's net private wealth. Swarbrick recommended a wealth tax, noting that raising income tax rates alone may not resolve the issue because the wealthy can move income between personal, trust, and company structures.

Christopher Luxon previously announced tax possibilities, and Nicola Willis provided commentary on those proposals.