Better wages and restoring the Kiwi dream of homeownership are fundamental to reducing inequality, says Leader of the Opposition Andrew Little.
New research by Oxfam shows 90% of New Zealanders own less than half of the country’s wealth.
“New Zealand has always been about ensuring everyone has a fair shot and a fair share. That is slipping away. Middle New Zealand is being squeezed by National’s policies while the fruits of growth go to a wealthy few.
“Owning your own place has always been the cornerstone of wealth for most Kiwi families. Today, just a quarter of adults under 40 are homeowners. Rather than building their wealth, young families are stuck paying someone else’s mortgage.
“Stagnant wages are making it hard for families to save while facing bills like higher GP fees and growing education costs.
“We can fix this: policies to make housing affordable, like Labour’s KiwiBuild, and get more people into jobs, like Labour’s Ready for Work, will reduce inequality. Only by changing the government can we build a better, more equal New Zealand,” says Andrew Little.
