RNZ reported that the mistake – around $800 million over four years – resulted from extra funding for Inland Revenue being calculated as a revenue measure, rather than a cost.
The party then quietly re-uploaded the policy document with the correct figures after RNZ made enquiries.
It then released a press release saying there was a “typo” just after 12pm.
Green Party co-leader Chlöe Swarbrick admitted the error on Midday Report.
“There was a typo, which you’ve rightfully pointed out, with net revenue figures,” she said.
OneNews explained that the party’s taxation plan proposes a wealth tax on net assets above $10 million, an inheritance tax, and income tax changes the Greens say would deliver a tax cut to 96% of New Zealanders.
The Greens revised the plan following media enquiries this morning by RNZ and 1News.
In its reissued form, the policy shows total net revenue of $5.15 billion in 2027/28, rising to $5.73 billion by 2030/31 — down from $5.35 billion and $5.94 billion in the version released a day earlier, a reduction of roughly $800 million over four years.
Infometrics principal economist Brad Olsen, who reviewed the policy’s costings for the Greens, told 1News the IRD administration cost had been recorded in the wrong place.
During an analysis of the Green Party’s tax policy, the Green Party and Infometrics agreed that an explicit amount should be added in to account for the administrative work IRD would need to be funded to do to undertake the proposed tax policies.
When incorporating this administration cost, the figure was inadvertently included in the summary total of revenue. It should have been recorded as a cost.
Party co-leader Chlöe Swarbrick – when acknowledging the mistake on RNZ’s Midday Report – said:
“Yes, we’ve issued a correction on this. So, there was a typo, which you’ve rightfully pointed out with net revenue.”
A typo?
Let’s suppose PoO reported that Chlöe Swarprick had answered questions about the specifics of the Green Party’s tax policy package.
Oops. That’s a typo.
Now let’s suppose we reported that Chlöe Swarbrick was leader of the ACT Party?
That would be a blunder (serious enough to upset Swarbrick and her party colleagues as well as ACT Party leader David Seymour and his party colleagues).
Turning a cost into revenue comes into the second category.
But wait. There’s more.
Put to her that the error amounted to nearly half a billion dollars over the forecast period, Swarbrick said the figures still held up.
“This is what happens when you have a large team moving at pace, and you’ve got designers who are producing collateral, which is going out.”
Anyone care to explain what “producing collateral” means?
Whatever was meant, Swarbrick has said enough to persuade us New Zealand would be smart to stick to its nuclear-free policy.
If the tax policy error is is what happens when you have a large team moving at pace, we would not want anyone on that team to have its fingers anywhere near the nuclear button.
Bob Edlin is a veteran journalist and editor for the Point of Order blog HERE. - where this article was sourced.
It then released a press release saying there was a “typo” just after 12pm.
Green Party co-leader Chlöe Swarbrick admitted the error on Midday Report.
“There was a typo, which you’ve rightfully pointed out, with net revenue figures,” she said.
OneNews explained that the party’s taxation plan proposes a wealth tax on net assets above $10 million, an inheritance tax, and income tax changes the Greens say would deliver a tax cut to 96% of New Zealanders.
The Greens revised the plan following media enquiries this morning by RNZ and 1News.
In its reissued form, the policy shows total net revenue of $5.15 billion in 2027/28, rising to $5.73 billion by 2030/31 — down from $5.35 billion and $5.94 billion in the version released a day earlier, a reduction of roughly $800 million over four years.
Infometrics principal economist Brad Olsen, who reviewed the policy’s costings for the Greens, told 1News the IRD administration cost had been recorded in the wrong place.
During an analysis of the Green Party’s tax policy, the Green Party and Infometrics agreed that an explicit amount should be added in to account for the administrative work IRD would need to be funded to do to undertake the proposed tax policies.
When incorporating this administration cost, the figure was inadvertently included in the summary total of revenue. It should have been recorded as a cost.
Party co-leader Chlöe Swarbrick – when acknowledging the mistake on RNZ’s Midday Report – said:
“Yes, we’ve issued a correction on this. So, there was a typo, which you’ve rightfully pointed out with net revenue.”
A typo?
Let’s suppose PoO reported that Chlöe Swarprick had answered questions about the specifics of the Green Party’s tax policy package.
Oops. That’s a typo.
Now let’s suppose we reported that Chlöe Swarbrick was leader of the ACT Party?
That would be a blunder (serious enough to upset Swarbrick and her party colleagues as well as ACT Party leader David Seymour and his party colleagues).
Turning a cost into revenue comes into the second category.
But wait. There’s more.
Put to her that the error amounted to nearly half a billion dollars over the forecast period, Swarbrick said the figures still held up.
“This is what happens when you have a large team moving at pace, and you’ve got designers who are producing collateral, which is going out.”
Anyone care to explain what “producing collateral” means?
Whatever was meant, Swarbrick has said enough to persuade us New Zealand would be smart to stick to its nuclear-free policy.
If the tax policy error is is what happens when you have a large team moving at pace, we would not want anyone on that team to have its fingers anywhere near the nuclear button.
Bob Edlin is a veteran journalist and editor for the Point of Order blog HERE. - where this article was sourced.
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