video UK · 28 September 2025

The first politician on Gary's Economics

This video features an interview with Chlöe Swarbrick, co-leader of the New Zealand Greens, who discusses her journey into politics and the striking wealth inequality in New Zealand. She highlights how the country's tax system disproportionately benefits the wealthy, leading to a declining quality of life for ordinary citizens, and notes New Zealand's unique position as the only OECD country without a wealth, inheritance, or capital gains tax.

By Gary Stevenson

Mentions Thomas Piketty

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Arguments in this video

Capital flight Gary Stevenson · 27:38
“So while people might move to try and escape these issues domestically they'll chase them because you know, the billionaires are coming and you know Peter Thiel”
The wealth taxes we have aren't working Gary Stevenson · 08:18
“we are an outlier in the OECD as the only country in the OECD that doesn't have a form of wealth tax, inheritance tax or even a capital gains tax or stamp duty ”
Taxes wealth like work Gary Stevenson · 07:25
“we have a tax system that says those at the top pay an effective tax rate less than half of that of the average New Zealander”
Raises real revenue Gary Stevenson · 13:48
“it's also about bringing back into the collective pool the resources necessary to build the foundations of the society that all of us bloody live in”
The working class are the ones leaving Gary Stevenson · 03:40
“we're experiencing the brain drain … a lot of my mates were leaving the country for greener pastures, for lower cost of living, for better job opportunities”
Strengthens social cohesion Gary Stevenson · 35:49
“it's about people realizing and this is my kind of classic go to that inspiration is not a reason to put somebody on a pedestal and go that person's gonna solve”
Curbs extreme inequality Gary Stevenson · 13:41
“instituting these wealth taxes is not only about arresting that deeply and quickly growing wealth inequality but it's also about bringing back into the collecti”