New Zealand is raising its minimum wage to $20 an hour and increasing the top tax rate for the country’s highest earners to 39%. The Guardian reports that the government estimates that the changes, which will be rolled out on Thursday alongside small increases to unemployment and sickness benefits, will affect up to 175,500 workers, and increase wages across the economy by $216m. The new top tax rate will meanwhile apply to anyone earning more than $180,000 a year, about 2% of New Zealanders, with the government estimating it will bring in an additional $550m in revenue this year.