Axe the capital gains tax

Wednesday, 19 October 2005, 1:01 pm
Press Release: New Zealand National Party

John Key MP
National Party Finance Spokesman

19 September 2005

National Party Finance spokesman John Key says Revenue Minister Peter Dunne should, as a matter of urgency, target Labour’s “crazy plans” for a capital gains tax.

“This is a blatant $150 million Labour tax grab. It sends entirely confused messages about sensible saving.

“Kiwis don’t save anywhere near enough, yet this is a tax which threatens to penalise those who are trying to do the right thing.

“Peter Dunne will know this new tax is unnecessary and unfair.

“The new Revenue Minister should order a review of the capital gains tax as his top priority,” says Mr Key.

Ends

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