A candidate for The Opportunities Party has revealed how it would shift the tax burden off income and onto land if elected.
TOP candidate for Epsom Dr Nina Su said the party is focused on policies which would help young people, including a $15,000 tax-free threshold, a universal basic income, a Teal Card and a land tax.
Dr Su told AM's Ryan Bridge New Zealand currently has high income tax, which the party wants to change.
"What we are saying is we need to be taking some of the burden off of income tax. We tax income a lot in New Zealand, so we are not a country where hard work is rewarded and we are saying we need to put some of that burden onto land," she said.
"We have a housing crisis where land is just increasing in price and increasing in price and we've priced a whole generation out of the housing market so we are saying, 'We need to be rewarding people for hard work and taking that burden off income and putting it onto land'."
Under the party's policy, the value of residential urban land would be taxed, not the value of the property on it.
Dr Su said this would help incentivise development and add to supply. She said most low and middle-income Kiwis would be either better off or the same with the income tax reduction.
"Most people in New Zealand will be better off but also having a land value tax will help us tackle the stratospheric increases in land value in New Zealand."
The tax would be collected annually at a rate of 0.75 percent of the land value. Dr Su said the people who will do worse under the party's policy are those who "own lots and lots of land and aren't doing anything with it".
When asked whether the land value tax would just make it harder for young people to get on the property ladder, Dr Su said no.
"What it actually does is reduce the value of the land itself to stabilise the market. And what we actually want to do is free up land to create more housing because at the moment people are not incentivised to do that."
She also said the land value tax does not include rural land so farmers wouldn't be taxed.
The Party also plans to introduce a Teal Card, which would make primary care, dental, mental health care, eye care and public transport free for people under 30.
Dr Su said there would also be a $1500 bike grant for people to buy bikes or electric bikes which would be paid for with the climate and emergency response - which is already costed in the Party's Budget.
She said the policy is important because there is "nothing for young people out there".
Watch the full interview above.
