Green Party proposes higher taxes, spending and debt to fund infrastructure and health

The Greens' new fiscal blueprint aims to lift total Crown revenue to 40.1% of GDP, roughly $234 billion, by expanding the tax base with a wealth tax, higher corporate taxes on large firms and an inheritance tax, which together would add about $28.75 billion. Expenditures are projected to increase to $233 billion, including a $3 billion yearly increase for health services and higher operating allowances of $4.5-$4.7 billion.

The party expects these investments to boost GDP by 1% and create 64,000 jobs beyond Treasury’s baseline. Surpluses would return later than current forecasts, with a modest $400 million surplus projected for 2029/30. Debt would be allowed to rise to a larger proportion of GDP to fund transport and infrastructure, rather than being used for day-to-day spending.