The New Zealand Prime Minister’s Final Step: Increase the Minimum Wage and Taxes for the Rich

The New Zealand Prime Minister’s Final Step: Increase the Minimum Wage and Taxes for the Rich

London – The minimum wage is higher and taxes are increased to 1%, or rather 2% of New Zealand’s population, the richest in the country. These are the new economic measures of the Jacinda Ardern government, which again stands out in its progressive policies: With the Prime Minister’s government, the New Zealand minimum wage has grown continuously since 2017, bringing the total to $ 4.25 domestically (2,53 euros) an hour added to workers’ pockets. Humble or low-paid. As I mentioned before guardian, The last increase, which will be approved by the Dutch parliament today, will be equal to 0.7 euros an hour: it will raise the minimum wage to 20 local dollars (equivalent to 12 euros) an hour, and according to the executive authority estimates, it will affect 175,500 workers for additional state expenditures equal to 129 million euro.

But at the same time, taxes will also be raised on the rich – all those who earn more than 180,000 local dollars a year, or 107,000 euros, or 2% of New Zealand’s population. The tax cap will increase to 39%, which will bring about € 327 million into state coffers.

It’s a measure not only necessary given the economic damage to Covid has also been inflicted in New Zealand, albeit limited thanks to the tough timing and action taken by Ardern, but above all for some time in the Minister’s First Labor program. Which will then be put into effect permanently.

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But as the British newspaper itself notes, and as Ardern herself admits, the road to a more equal society in New Zealand is still long: child poverty rates are just as high as housing costs.

In Auckland, for example, the average cost of real estate is eleven times the annual salary. Likewise, there is a shortage of family homes in the country: As Staff writes, 22,800 New Zealand families are still awaiting housing.

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