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Called Real or the Egalitarian Party Of Aotearoa/New Zealand, the party hopes to field candidates in Hamilton West and Waikato for this year's general election.
Helen Marsh, an ACC beneficiary who holds a post-graduate diploma in economics, said the party's policies were radically different and she believed they would enable the values of women and other under-represented groups to be expressed more fully than any other political party.
"The fundamental philosophy of the party is a belief in equal individual rights including the right to the total value of one's own labour.
"We recognise that no person has any more right to the value of natural resources, which is a gift of nature and not created through anyone's labour, than ony other person. This value would be taxed away and distributed in a natural dividend," Ms Marsh said.
She said the party would gear for the 1996 election, as she believed MMP was the most important issue this year.
"The only support I can really count on at the moment is myself and my son," she said.