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.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Our Unreal Optimism About The Economic Impact Of Coronavirus

At this week’s Chinese New Year celebrations, PM Jacinda Ardern was resolutely upbeat that business with China would soon bounce back to normal – better than ever, even - once the coronavirus epidemic has been brought under control. To Ardern, the adversity has only accentuated just how close we are to Beijing Nothing wrong with being upbeat, if it can calm the nerves and turn business sentiment into a self-fulfilling prophecy. The problems begin when the optimism detaches itself from reality. What has been very odd so far about the coronavirus episode is that global share markets – normally spooked by mere sneezes or sniffles in the world’s major economies - have continued to be fairly positive, even as the epidemic has unfolded... More>>

First Published on Werewolf here


Gordon Campbell: On The Political Donations Scandals
Even paranoids have real enemies. While there has been something delusionary about the way New Zealand First has been living in denial about its donations scandal, one can sympathise with its indignation about Paula Bennett and Simon Bridges being among its chief accusers. More>>


UN Expert: NZ Housing Crisis Requires Bold Human Rights Response

This is a press statement from UN Special Rapporteur on the right to housing at the end of her 10-day visit to New Zealand. The Government of New Zealand has recognized that the country is facing a housing crisis, said Leilani Farha, UN Special Rapporteur ... More>>


2020 And Beyond: National’s Economic Plan

National Leader Simon Bridges has today outlined National’s economic plan heading into election 2020. “National understands the economy and how it impacts on New Zealanders day to day lives... More>>


Abortion Legislation Committee: Abortion Bill Report Presented To The House

The Abortion Legislation Committee has presented its report on the Abortion Legislation Bill to the House. A copy of the report is available here. The bill seeks to have abortion services provided like other health services... More>>


Auditor-General's Report : Water Management

The Auditor-General’s report Reflecting on our work about water management was presented to the House of Representatives today. Over the last two years we have been looking at how well public organisations are carrying out their water management ... More>>






InfoPages News Channels