NZ Poll: Majority Back Higher Taxes for Billionaires, Wealth Caps Considered

New Zealanders Increasingly Concerned About Inequality, Polls Reveal

New Zealanders are increasingly aware of rising economic inequality and are open to measures like increased taxes on the ultra-wealthy and even wealth caps, according to recent polling commissioned by the Wellbeing Economy Alliance Aotearoa (WEAll Aotearoa). The surveys, conducted in October 2025 and February 2026 by Talbot Mills, highlight a growing frustration with the current economic system and a desire for long-term solutions to pressing issues like housing, healthcare, and climate change.

Growing Support for Taxing the Ultra-Rich

The February 2026 poll revealed that 68% of New Zealanders agree that billionaires should pay more tax to fund essential public services. Only 13% disagreed with this proposition. This sentiment is particularly strong among younger demographics, with 71% of those under 30 and 71% of those aged 30-44 expressing support. Even among older voters, a significant 64% of those over 60 agreed with the idea. Support also varied across political affiliations, with strong backing from Labour (80%) and Green (80%) voters, as well as a majority among Te Pāti Māori (69%) and New Zealand First (67%) supporters. National and ACT voters were more divided, with 58% and 44% support respectively.

Gareth Hughes, Director of WEAll Aotearoa, emphasized that Kiwis “know that our tax system isn’t fair,” and that it places too much burden on workers through regressive taxes like GST. He believes the polls demonstrate a clear desire for a fairer system where the wealthiest contribute more to society.

Exploring the Concept of Wealth Caps

Perhaps more strikingly, 37% of respondents indicated support for introducing a “billion-dollar wealth cap” – a legal limit on the amount of wealth any individual could hold. Although this proposal garnered less widespread support than increased taxation (34% opposed), it signals a growing willingness to consider radical solutions to address wealth concentration. Hughes himself expressed personal comfort with the idea, suggesting that those who accumulate over a billion dollars could receive recognition for their success while contributing to the broader community.

The idea of wealth caps is relatively new to the New Zealand political discourse, but WEAll Aotearoa is part of a global network exploring alternative economic models focused on wellbeing and sustainability. Hughes noted that New Zealand previously had high marginal tax rates for the wealthy, suggesting a historical precedent for greater wealth redistribution.

Systemic Concerns About the New Zealand Economy

The polls also revealed widespread dissatisfaction with the current economic system. 66% of New Zealanders believe the system is not effectively addressing major challenges like housing, healthcare, and climate change. Half of those surveyed (50%) agreed that no one should be a billionaire while so many struggle to afford basic necessities. This highlights a growing perception that the benefits of economic growth are not being shared equitably.

These findings align with broader trends observed in New Zealand. The National Business Review’s annual rich list reported in 2024 that New Zealand had 18 billionaires, a figure that has been steadily increasing despite economic challenges. Hughes argues that this concentration of wealth is a symptom of a system that favors the wealthy and makes it increasingly difficult for others to achieve economic security.

A Desire for Long-Term Political Thinking

The October 2025 poll underscored a broader desire for more long-term political thinking. A significant 84% of respondents agreed that major political parties should work together to find lasting solutions to challenges like climate change, healthcare, and poverty reduction. 78% supported a national conversation about values and long-term goals to build consensus across the political spectrum. 76% agreed that political decisions in New Zealand are often characterized by short-term measures rather than sustainable solutions, and 75% expressed frustration with parties constantly changing positions on important issues.

What Happens Next?

The Wellbeing Economy Alliance Aotearoa intends to continue raising awareness about these issues and advocating for policy changes that promote a more equitable and sustainable economy. Hughes stated that it is now up to political leaders to respond to the public’s concerns and present concrete solutions. The polling data provides a clear indication of the public mood and could influence the policy platforms of political parties as they prepare for future elections. It remains unclear whether these poll results will translate into concrete policy changes, but they undoubtedly represent a significant shift in public opinion regarding wealth inequality and the role of government in addressing it.

The polls commissioned by WEAll Aotearoa offer a snapshot of a nation grappling with economic anxieties and searching for a more just and sustainable future. The strong support for taxing the wealthy and exploring innovative solutions like wealth caps suggests a growing appetite for bold action to address the challenges of the 21st century.