Parliament

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

 

National would repeal Capital Gains Tax

Simon Bridges - Leader of the Opposition

26 November 2018

National Leader Simon Bridges says there will be no Capital Gains Tax under a National Government, it would repeal a CGT if put in place by the Labour-led Government and there wouldn’t be any new taxes in its first term.

The announcement was made today in Auckland, as National also launched its ‘Have your Say’ Families campaign.

“Michael Cullen’s Tax Working Group has announced it is putting together two options for a Capital Gains Tax. Even the Tax Working Group has conceded that this won’t fix the housing market but will lead to higher rents for those who can least afford it.

“Under this Government rents have risen 2.5 times faster than under National. This is because of a raft of poor policy decisions including imposing new taxes and regulations on landlords including ring fencing of losses, extending the bright line test, changing the Residential Tenancies Act and introducing more costly standards.

“A Capital Gains Tax is a tax on small business owners and entrepreneurs, people who have worked hard for decades to grow the value of their business, paying tax and employing people, only to get whacked with yet more tax when they sell for retirement.

“This Government claims to be kind, but these policies are hurting Kiwi families. A Capital Gains Tax would only add to the pain.

“A Capital Gains Tax would also affect everybody’s KiwiSaver, directly taxing people saving for their retirement.

“Kiwis pay more than enough tax already. If this Government reined in its wasteful spending it would be able to continue increasing funding for core public services without more taxes.

“National is committed to helping families get ahead. Under this Government petrol and rents are increasing. Nobody’s doubting that this Government has good intentions but those good intentions have consequences that are doing more harm than good.”

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell : On Dealing With Impeccable, Impeachable Lies

By now, the end game the Republican Senate majority has in mind in their setting of the rules for the impeachment trial of Donald J. Trump is pretty clear to everyone: first deny the Democrats the ability to call witnesses and offer evidence, and then derisively dismiss the charges for lack of evidence. For his part, does former security adviser John Bolton really, really want to testify against his former boss? If there was any competing faction within the Republican Party, there might be some point for Bolton in doing so – but there isn’t. More>>

Published on Werewolf

 
 

WINZ Quarterly Report: More People Getting Into Work

The December quarter benefit numbers released today show the Government’s plan to get people off the benefit and into work is starting to pay off,” Social Development Minister Carmel Sepuloni said. More>>

ALSO:

Changing lives: Boost In Whānau Ora Funding

Whānau throughout New Zealand are set to benefit from an extra three million dollars that will go directly to Whānau Ora Commissioning Agencies, the Minister for Whānau Ora Peeni Henare announced today. More>>

ALSO:


PGF Kaikōura $10.88M: Boost In Tourism & Business

The Provincial Growth Fund (PGF) is investing $10.88 million to boost business and tourism opportunities in Kaikōura, Parliamentary Undersecretary for Regional Economic Development, Fletcher Tabuteau announced today. More>>

ALSO:

Whitebaiting: Govt Plans To Protect Announced

With several native whitebait species in decline the Minister of Conservation Eugenie Sage has today released proposals to standardise and improve management of whitebait across New Zealand. More>>

ALSO:


Education: Resource For Schools On Climate Change

New resource for schools to increase awareness and understanding of climate change... More>>

ALSO:

In Effect April: New Regulations For Local Medicinal Cannabis

Minister of Health Dr David Clark says new regulations will allow local cultivation and manufacture of medicinal cannabis products that will potentially help ease the pain of thousands of people. More>>

ALSO:


Gordon Campbell: On What An Inquiry Might Look Like

Presumably, if there is to be a ministerial inquiry (at the very least) into the Whakaari/White Island disaster, it will need to be a joint ministerial inquiry. That’s because the relevant areas of responsibility seem to be so deeply interwoven... More>>

ALSO:


 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels