Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Govt will not implement a Capital Gains Tax

Rt Hon Jacinda Ardern

Prime Minister
MP for Mt Albert


17 April 2019 PĀNUI PĀPĀHO

MEDIA STATEMENT


Govt will not implement a Capital Gains Tax

The Coalition Government will not proceed with the Tax Working Group’s recommendation for a capital gains tax, Jacinda Ardern announced today.

“The Tax Working Group gave the Government, and the country, an opportunity to look at the fairness of our tax system and debate options for change,” Jacinda Ardern said.

“All parties in the Government entered into this debate with different perspectives and, after significant discussion, we have ultimately been unable to find a consensus. As a result, we will not be introducing a capital gains tax.

“I genuinely believe there are inequities in our tax system that a capital gains tax in some form could have helped to resolve. That’s an argument Labour has made as a party since 2011.

“However after almost a decade campaigning on it, and after forming a government that represented the majority of New Zealanders, we have been unable to build a mandate for a capital gains tax. While I have believed in a CGT, it’s clear many New Zealanders do not. That is why I am also ruling out a capital gains tax under my leadership in the future.

“The Tax Working Group was a valuable exercise that has delivered some useful suggestions well beyond just the debate on CGT, and I want to thank the Group for its work. In fact the majority of recommendations will either be investigated further or have formed part of our work programme.

“There are other things that can be done to improve the fairness of our tax system. As such the Coalition Government has agreed to tighten rules around land speculation and work on ways to counter land banking.

“Work will also continue to cut red tape for business and crack down on multi-nationals avoiding paying their fair share of tax in New Zealand. We have already made changes to address base erosion and profit shifting, and we will shortly release a discussion document on options for introducing a digital services tax.

“My job now is to focus on the things we can and are doing to improve the wellbeing of all New Zealanders.

“The Coalition Government is addressing the long-term challenges New Zealanders face such as mental health, climate change and child poverty and responding to the March 15 terrorist attack and keeping New Zealanders safe. Those challenges will be my priorities for the remainder of this term,” Jacinda Ardern said


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The RWC, And The Op Burnham Inquiry

Testimony was given that damning evidence had been culpably ignored, lost or (deliberately?) mislaid. The systems for handling secret material from our allies were – to be charitable – only loosely observed.

Moreover… vital evidence was only belatedly made available to the inquiry, and former NZDF officers later found to be central to the events under scrutiny were strangely missing from the original witness list offered by NZDF. In short, last week’s cross-examination of the military’s former top brass demonstrated in detail that the NZDF had consistently misled its Ministers (and the wider public) for years, over the impact of our military activities in Afghanistan. More>>

 
 

Call For Action On Expert Panel Report: Welfare System Needs Urgent Change

If we want New Zealand to be the best place in the world to be a child, the Government needs to increase benefits, remove sanctions, individualise benefits, and fix abatement rates now, says Child Poverty Action Group and ActionStation . More>>

ALSO:

First Data Releases: Mixed External Report On Census Fail Mitigation

The panel endorses the statistical approaches used to mitigate non-response... However, the unprecedented use of alternative government datasets to augment census data raises questions around ethics, social licence, cultural licence, and Māori data sovereignty. More>>

ALSO:

Aitches: Manawatū-Whanganui Region Spelling Corrected

The Manawatu-Wanganui Region will in future be correctly spelt Manawatū-Whanganui Region. The change also means the regional council will be known as the Manawatū-Whanganui Regional Council. Horizons Regional Council is the trading name for the council. More>>

PM In Japan: Jacinda Ardern’s Remarks Following Abe Summit

Today we discussed a wide range of topics. Broadly the themes were: a deeper, high-value trade and investment relationship, greater cooperation in the Pacific; and strengthening our security partnership. More>>

ALSO:

Replacing All But Chair: Twyford Appoints Five NZTA Board Members

Transport Minister Phil Twyford today announced the appointment of five new members to the NZ Transport Agency Board... There remain two vacancies on the NZTA Board which will be filled in due course. More>>

ALSO:

Climate Change: Adaptation And Risk Assessment Framework Released

“We are already experiencing the effects of a changing climate such as coastal inundation and increasingly frequent and severe droughts, floods, fires and storms. This framework is an acknowledgement that we must start adapting”, James Shaw said today. More>>

ALSO:

Ihumātao: Mana Whenua Reach Decision On Land

Māori King Tūheitia says mana whenua have finally reached consensus over what to do with Ihumātao - they want it back. More>>

ALSO:

PM To Japan, New York: Ardern To Meet Trump During UN Trip

“I’m looking forward to discussing a wide range of international and regional issues with President Trump, including our cooperation in the Pacific and the trade relationship between our countries." More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels