Auckland (The NZ Today)
Green Party co-leader Chlöe Swarbrick has defended her party’s proposed $10 million wealth-tax threshold, after National accused the Greens of using it as a starting point that could later be lowered to capture more New Zealanders.
National campaign chair Simeon Brown labelled the policy a “Trojan horse” on Friday after Swarbrick told The Kaka that a future Green government could potentially revisit the threshold.
Swarbrick pushed back on Saturday, saying the $10 million threshold is the policy the Greens are currently campaigning on and the position they would take into post-election negotiations.
The Greens’ 2026 tax policy proposes a 2.5 percent tax on net assets above $10 million, excluding the family home. The party says the revenue would help fund income-tax cuts and public services.
Asked whether the threshold could be lowered later, Swarbrick said any such move would require the party to first seek a fresh electoral mandate.
She said the Greens’ immediate priority was making the case for the current proposal rather than pre-empting changes that are not part of this election campaign.
National, however, is using the comments to argue that the proposed threshold may not remain fixed in the longer term.
Brown said voters should be wary of allowing a wealth tax to be established first, claiming the scope could later be widened.
That remains a political warning rather than part of the Greens’ current published policy.
The Greens have continued to campaign heavily on tax reform in the final stretch of the election, arguing that high-wealth households should contribute more while most wage and salary earners receive income-tax relief.
The party also pointed this week to new research on effective tax rates among wealthy households as further justification for introducing a wealth tax.
The exchange is likely to keep tax policy near the centre of the campaign, with National warning against higher taxes and the Greens arguing that shifting more of the tax burden toward wealth would help fund lower living costs and public investment.
Source: RNZ
