The Problem: Wealth Concentration, Stagnant Wages, Housing Crisis, and Tamariki Poverty in Aotearoa

For too long, our economy has flowed upward—accumulating wealth in the hands of a tiny elite, while the majority of Aotearoa’s people, especially our tamariki, struggle under everyday hardship.

The richest 10% of New Zealanders control around 60% of the nation’s wealth, owning assets that keep compounding far faster than wages grow. The median household net worth was $529,000 in 2024—up 33% since 2021—but these gains are almost exclusively enjoyed by the top 20% of households, who hold two-thirds of all wealth. Meanwhile, many families, particularly Māori and Pasifika whānau, face persistent poverty, with median net worth dramatically lower—around $52,000 for Māori households—reflecting deep systemic exclusion.​

Incomes tell a similar story. While some business sectors see growth, wage increases are muted—just 2% over the past year—leaving working people with stagnating real earnings amid rising living costs. This economic squeeze hits hardest in housing, where New Zealand ranks near the bottom of OECD countries for affordability. Foreign ownership of residential land, speculative investment, and underbuilding combine to make home ownership a distant dream for many.​

Underneath these figures runs the lifeblood of our collective values: Manaakitanga — care for each other; whanaungatanga — connection through kinship and community; and utu — balance and accountability. Our economic system has ignored these principles, valuing profit above people, growth above wellbeing, and greed above justice.

Our guiding truth is simple yet revolutionary: if the economy isn’t serving the people—especially our tamariki and whānau—then it simply isn’t working. Economics must be a tool for care and equitable flourishing, not a machine for concentration and exclusion.