“Labour is clearly keeping the door open for a new tax on capital if re-elected, making the election a referendum on new capital taxes”, says ACT Leader David Seymour.

“When you ask the Government to rule out capital taxes, all they can say is this term, this term, this term. Translation: if they get another term, taxpayers will get another tax.

“I challenged the Finance Minister to match Jacinda Ardern’s pledge. She promised never to introduce a CGT while Prime Minister, and kept it. Grant Robertson wouldn’t do the same as Finance Minister, even with encouragement. The only possible reason Labour isn’t firmly shutting down speculation about a CGT is because it can’t.

“Chris Hipkins, Grant Robertson and David Parker have all spoken in favour of a CGT in the past.

“In 2011, Hipkins tweeted: ‘Husband and wife with rental property approached me today to say they like capital gains tax, they think it's fairer, me too!’ In 2013, Robertson tweeted ‘Capital Gains Tax needed’. Parker is a long-time advocate for a CGT.

“Asked in Parliament today whether he would rule out introducing a new tax on capital while he is the Minister of Finance, Robertson couldn’t. Even Jacinda Ardern could do that.

“Robertson is dancing like a butterfly around the issue, but he will sting taxpayers like a bee if he gets the chance. The Government doesn’t need more revenue. It needs to do better with the money it has.

“Why would any New Zealander agree to the Government implementing a new tax on capital, when this Government’s increased spending by 60 per cent and yet the trains don’t work, the roads are potholed, fewer criminals are in jail, fewer kids are attending school, and more people are queuing for operations?”

Press Contact

[email protected]