One Of The World’s Happiest Countries Raises Min Wage To $20, Increases Taxes 39% On The Rich

New Zealand, one of the top ten happiest countries in the world, is giving workers a big boost in pay.

The Independent reports:

“Changes to minimum wage and tax policy came into force in New Zealand today.

Prime Minister Jacinda Ardern’s had promised to raise the minimum wage to $20 per hour (£10.15) and to raise taxes on the wealthiest Kiwis.

The rise in wages means that the income of 175,500 New Zealanders will be increased by $44 (£22.30) each week.

“Today’s rise to $20 per hour is estimated to boost wages across the economy by $216 million, giving New Zealanders more money to spend at local businesses,” Minister for Workplace Relations and Safety Michael Wood said.

“There are many Kiwis who earn the minimum wage who have gone above and beyond in our fight against COVID. I think everyone agrees those who served us so well during lockdown – including supermarket workers, cleaners, and security guards – deserve a pay rise,” the minister added.

The new changes also impact the top two percent of earners in New Zealand, those on salaries of over $180,000 (£91,238.87), who will now be taxed by 39 per cent.

Previously, everyone who earnt over $70,000 (£35,476.70) paid a tax rate 33%.”

For the rest of the story, visit The Independent here.

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