TOOL · GROSS COST

How much would a basic income cost in New Zealand?

Calculate the gross annual cost of paying a monthly amount to the country’s adult and child population.

Country

Adult population 4,244,514child population 955,486year 2023World Bank WDI

Monthly amount per adult

Monthly amount per child

GROSS ANNUAL COST

45,334 million

in NZDNZ$45,333,667,200

Equal to 10.9% of reference GDP

Population covered: 5,200,000 people

Adults: 4,244,514 × NZ$800 × 12 = NZ$40,747,334,400

Children: 955,486 × NZ$400 × 12 = NZ$4,586,332,800

NZ$40,747,334,400 + NZ$4,586,332,800 = NZ$45,333,667,200

Offset benefits, recovered tax, administrative savings and later economic effects are not deducted. This is a gross cost, not a net cost.

Sources and method

Population 2023 · World Bank WDI

GDP 2023 · $256,372,177,758 · World Bank WDI

Currency NZD · exchange rate 1.6284 NZD/USD (2023)

Converted cost $27,838,822,918 for the GDP share.