Green Party Unveils Fiscal Plan Amid Tax and Spending Row

The Green Party of New Zealand released a fiscal plan for the 2026 election that proposes increasing health spending by $3 billion annually over four years, totaling $30 billion. To fund these initiatives and other capital projects, the party plans to generate approximately $28.75 billion through new taxes targeting wealthy individuals, large companies, banks, and landlords, including a proposed wealth tax and taxes on inheritances and large gifts.

Co-leader Chlöe Swarbrick argued that New Zealand can afford the additional borrowing, which would increase net core Crown debt from $187 billion to $256 billion, because public debt remains low compared to other nations. The plan also includes income tax cuts for most workers and the purchase of overseas carbon credits. While the New Zealand Council of Trade Unions Te Kauae Kaimahi endorsed the plan for addressing the cost of living and infrastructure, political opponents reacted harshly. National Party campaign chair Simeon Brown and ACT leader David Seymour argued the nine new taxes would damage the economy and lead to financial ruin.

The proposal faced further scrutiny from the Taxpayers' Union, which accused the party of omitting 17 policy announcements from the fiscal plan. James Ross, head of policy for the union, claimed these uncosted spending promises total $176.374 billion, including a $96 billion ACC extension and student loan write-offs. Ross characterized the omission as a significant gap, asserting the plan is effectively worthless given the scale of the missing expenditures.