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  "description": "The correction reduces the party’s projected net revenue by about $200 million a year, or roughly $800 million over four years.",
  "path": "/greens-correct-800m-tax-policy-error-after-ird-cost-counted-as-revenue/",
  "publishedAt": "2026-06-24T01:30:26.000Z",
  "site": "https://goodoil.news",
  "tags": [
    "Centrist",
    "pic.twitter.com/0eXLzkDtsV",
    "June 23, 2026",
    "pic.twitter.com/q66giawZtC",
    "Read more over at 1News",
    "Receive our free newsletter here",
    "@TheRedbaiter",
    "@Suitandtie9999"
  ],
  "textContent": "Summarised by Centrist\n\n**The Green Party has corrected a fiscal error in its flagship tax policy after $100 million a year set aside for**\n\n**Inland Revenue administration was wrongly counted as revenue rather than treated as a cost.**\n\nThe correction reduces the party’s projected net revenue by about $200 million a year, or roughly $800 million over four years.\n\n> \"Yeah, I wanna pay more tax,\" says Greens co-leader Marama Davidson.\n>\n> Unfortunately, host Ryan Bridge never followed up on this statement. He could have immediately said \"How much more?\". Then asked why, if she was being truthful, she had not voluntarily made a bank transfer for… pic.twitter.com/0eXLzkDtsV\n>\n> — The Redbaiter (@TheRedbaiter) June 23, 2026\n\nThe policy proposes a 2.5% annual wealth tax on net assets above $10 million, a 33% tax on inheritances and gifts over $1 million, a $10,000 tax-free income threshold and a new 45% top tax rate on income over $160,000.\n\nCo-leader Chlöe Swarbrick described the mistake as a “typo”.\n\n“We’ve made an error, and we’ve issued a correction to correct exactly that, but our figures still stack up,” she said.\n\n> Another day, another round of Green Party numerical blunders.\n>\n> When Ryan Bridge asked Marama Davidson on Herald Now exactly how many errors there were in their new tax policy, she shifted from an emphatic “just one” to “a couple” in under 30 seconds like it’s not big deal at all.… pic.twitter.com/q66giawZtC\n>\n> — Suit and tie (@Suitandtie9999) June 23, 2026\n\nInfometrics principal economist Brad Olsen, who reviewed the policy’s costings for the Greens, said the IRD administration cost had been recorded in the wrong place.\n\n“When incorporating this administration cost, the figure was inadvertently included in the summary total of revenue when it should’ve been recorded as a cost,” Olsen said.\n\nHe said he was sorry to have missed the mistake, but maintained the error was not material to the tax policy’s overall revenue assumptions.\n\nThe correction marked the second problem with the launch, after the policy appeared early on the Greens’ website before its scheduled announcement.\n\nNational campaign chair Simeon Brown called the package “economic lunacy” and said the Greens had given Labour “a smorgasbord of new taxes”.\n\nRead more over at 1News\n\nReceive our free newsletter here",
  "title": "Greens correct $800m tax policy error after IRD cost counted as revenue",
  "updatedAt": "2026-06-25T05:08:51.428Z"
}