The Green Party wants to introduce a new top tax rate with every cent of the more than $1 billion raised going toward fighting child poverty.
Metiria Turei. Photo: GREEN PARTY
Greens' co-leader, Metiria Turei, unveiled the policy at the party's campaign launch in Auckland this afternoon.
She said the party would create a new income and trust tax rate of 40 percent on all income above $140,000.
Ms Turei said that would raise more than $1 billion, while affecting only 3 percent of tax payers.
The revenue would enable the Greens to expand the current Working for Families in-work tax credit to also cover beneficiaries and students.
"This money will transform the lives of these kids, it'll mean the difference between having warm clothes, school books, lunch, turning on the heater when they're cold."
Ms Turei said that would mean an extra $60 a week for up to 150,000 families.
The Greens would extend the Parental Tax Credit to beneficiaries with newborns, who currently miss out.
The new tax rate would also fund the party's previously announced policies of school hubs in low decile schools, improved early childhood care, and free healthcare for all teenagers.
