Berry Slams Labour’s Capital Gains Tax

“Labour is rehashing a tired idea to satisfy their envy of the rich which will only create more chains for the poor!” says Independent Tamaki candidate Stephen Berry in response to Labour’s plans to introduce a capital gains tax on investment policies.

“Labour’s tax will ultimately end up hurting those on low incomes as a tax on landlords will always end up being paid through higher rents. Higher market rents will also result in people becoming more dependent on the state as increased numbers require the payment of accommodation supplement benefits and become trapped in the state housing system.”

Mr. Berry believes that these unintended consequences of Labour’s planned policy mean the forecasted increase in revenue will be useless. “Economists and tax analysts believe the policy will only raise $700 million after 15 years. This is opposed to the $4.5 billion figure pulled out of nowhere by failed schoolteachers and union secretaries. When the economic impact of a further tax burden and the increased cost of a greater welfare dependent poor are taken into account, this policy is nothing other than an over- complicated waste of time.”

Stephen Berry is unsurprised that Phil Goff refuses to debate the issue, which has been leaked prior to its scheduled release by the Labour party. “If I was the leader of a party with ideas like this, I wouldn’t be telling anyone about it either.”

Berry believes the answer to New Zealand’s economic woes and Government budgetary issues are one and the same. “Cut taxes, get the Government out of our lives and take a massive cleaver to state spending!”

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