Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Capital Gains Tax bare minimum to start reducing wealth gap

The Tax Working Group recommendations, which include a revenue-neutral Capital Gains Tax, are the absolute bare minimum changes the Government should introduce if it is serious about starting to reduce the gap between the rich and poor. Auckland Action Against Poverty is calling on the Government to introduce the recommendations and be bold about future measures that aim to narrow New Zealand's growing wealth divide.

"A Capital Gains Tax is a start, but it won't do anything to help our public housing crisis, or deeply underfunded health and education infrastructure", says Ricardo Menendez March, Auckland Action Against Poverty Coordinator.

“Research by Oxfam has shown that 2 New Zealanders own more wealth than the poorest 30%. It will take much bolder measures to unravel this extreme inequality. Tax reform on income tax, speculative transactions, and wealth are some of the additional options the Working Tax Group could have considered to better distribute wealth in our society.

The Capital Gains Tax will start addressing the commodification of housing, putting a leash on the aggressive nature of speculative housing market. But ordinary people will still be locked out of having access to permanent, healthy homes.

"We regret the narrow scope provided for the Tax Working Group. Tax reform that aims to create a more equitable society, such as increasing tax rates for top income earners, reducing rates for bottom income earners and lowering GST, needed to be included. The current tax system is regressive and disproportionately affects low-income communities”

"We are calling on the Government to introduce a comprehensive Capital Gains Tax following the recommendations, but we must address all the other core issues driving the housing crisis. If we are to end the record levels of homelessness and growing number of people waiting for a state home, the Government will have to start spending more than it is planning to in order to provide housing for all.”

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Commerce Commission: Retail Fuel "Not As Competitive As It Could Be"

The Commission has outlined some options it considers could improve competition. There are two broad sets of options it thinks may have the potential to help create a competitive wholesale market. These are:

• Greater contractual freedom to make it easier for resellers to switch between suppliers; and
• Enabling wider participation in the majors’ joint infrastructure, notably the shared terminals and supporting logistics involved in their borrow-and-loan system.
Further options, including improving the transparency of premium petrol prices, are discussed in the draft report. More>>

 

Promises: Independent Election Policy Costing Unit A Step Closer

The creation of an entity to provide political parties with independent and non-partisan policy costings is a step closer today, according to Finance Minister Grant Robertson and Associate Finance Minister James Shaw. More>>

ALSO:

School's In: Primary And Intermediate Principals Accept New Offer

Primary and intermediate school principals have voted to accept a new settlement from the Ministry of Education, which includes entrenched pay parity with secondary principals. More>>

ALSO:

IPCA On 'Rawshark' Investigation: Multiple Police Failings In Hager Searches Confirmed

The Independent Police Conduct Authority has found that the Police's unlawful search of Nicky Hager's property in October 2014 resulted from an unwitting neglect of duty and did not amount to misconduct by any individual officer... More>>

ALSO:

Broadcasting Standards: Decisions On Coverage Of Mosque Attacks

The Authority upheld one of these complaints, finding that the use of extensive excerpts from the alleged attacker’s livestream video on Sky News New Zealand had the potential to cause significant distress to audiences in New Zealand, and particularly to the family and friends of victims, and the wider Muslim community. More>>

PM's Post-Cab: Bad Mail

Cabinet was updated on the process around prisoners sending mail, following the accused Christchurch gunman sending letters that "should have been stopped". All mail of "high concern prisoners" will now be checked by a specialist team and a changes to the legal criteria for witholding mail are expecting to go to a cabinet committee in this parliamentary session. More>>

Welfare: Ongoing Drug-Test Sanctions Contradicts Govt’s Rhetoric

Reports that two-thirds of beneficiaries who fail drug tests are still having their benefit sanctioned contradicts the Government’s so-called health approach to drugs. More>>

ALSO:

Welfare: More Measures To Help Those Facing Homelessness

Ministers have announced $54 million in Government funding for initiatives which will support at-risk individuals and whānau to stay in their existing tenancies. The funding will also provide additional wrap around services. More>>

ALSO:

Corrections: New Strategy On Māori Reoffending And imprisonment

Authentic co-design with Māori, incorporating a Te Ao Māori worldview, and greater connectedness with whānau are key elements of Hōkai Rangi, Corrections’ new departmental strategy designed to address the long-term challenge of Māori reoffending and imprisonment. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels