Greens' fiscal plan promises $3 billion more a year for health
The Green Party has released a fiscal plan that promises to increase health spending by $3 billion a year. Co-leader and finance spokesperson Chloe Swarbrick released the plan at Parliament, according to RNZ.
The party says public health funding would total $32 billion over four years under the plan, as set out in a health announcement on its website. The plan also includes operating allowances of $4.5 billion to $4.7 billion a year. Operating allowances are the yearly sums set aside in the budget for day-to-day spending on services.
To pay for the extra spending, the plan projects that government revenue from taxes would rise by nearly $8 billion a year. The measures named are a super-rich tax, a capital acquisitions tax, a tax on big corporations, a major banks levy, stronger enforcement of tax on big tech, and a reversal of changes to landlord tax.
On the government's finances, the plan projects a return to surplus in 2029/30. It also projects net core Crown debt, a measure of government borrowing, rising to 44 percent of gross domestic product (GDP) in 2030/31.
The party aims to add 64,000 more jobs than the 220,000 forecast by Treasury. It estimates that its policies would increase GDP by 1 percent after four years.
The National Party has set aside $15.4 billion for extra health spending, and said health made up 88% of its spending commitments. Nicola Willis has said tax cuts are off the table.
