Tax Justice media release
1 May 2011
The announcement by Hone Harawira that the Mana Party will campaign for a Financial Transaction Tax is a big boost to the Tax Justice campaign.
“The “Hone Heke” branding of a tax that targets the speculators, banks and big corporates might catch on,” says Vaughan Gunson, Tax Justice campaign coordinator.
“We do need to cut these people and organisations down to size,” says Gunson. “They’re not paying the tax they should be. Speculators in New Zealand’s financial markets currently pay no tax on their profiteering. It’s a gross injustice.”
Mr Gunson says a tax on financial transactions of 1%, as the Mana Party is advocating, would bring in significant public revenue.
“With the money we take off the mega-wealthy we could remove GST off food,” says Gunson. “This would provide immediate relief to people struggling to cope with the rising cost of living.”
“And we could fund the re-building of Christchurch, without slashing social spending, which is what John Key’s government is doing, and will continue to do,” says Gunson.
The Mana Party is not the only party that supports a Financial Transaction Tax. It’s the policy of the Green Party, Maori Party and the Alliance Party. There’s also strong support from New Zealand’s union movement.
“This broad support means that taxing the speculators is set to be an election issue,” says Gunson.
Mr Gunson hopes a number of organisations and political parties will help to collect more signatures for the Tax Justice petition over the coming months.
“We’ve got over 30,000 signatures so far, and we’re aiming for at least 50,000 when we present the petition to parliament in August.”
The Tax Justice petition requests parliament to 1. Remove GST from food; and 2. Tax financial speculation.
For more information on the campaign go to www.nogstonfood.org
For comment, contact
Tax Justice campaign coordinator
Tax Justice spokesperson and Alliance Party co-leader