The New Zealand Taxpayers' Union will launch a wide-scale "Protect Your Savings" campaign if Labour decides to introduce a wealth tax.

Union spokesman Louis Houlbrooke says, "This morning on The AM Show Jacinda Ardern was given multiple opportunities to rule out a wealth tax, and she refused to do so. This comes as David Parker is asking Inland Revenue to sniff out more information on wealth held by New Zealanders."

"The Prime Minister clearly hasn't learned her lesson from the aborted capital gains tax. New Zealanders value a clean, simple tax system and will fiercely oppose a new tax on savings."

"Wealth taxes are notoriously difficult to implement fairly or simply. Someone who owns a house in Auckland may look wealthy on paper while still struggling to pay weekly bills. Meanwhile, someone who is truly wealthy will respond to a wealth tax by paying an accountant to exploit loopholes in the law."

"Fundamentally, a wealth tax is a tax on savings – it punishes New Zealanders who have been productive, made prudent financial decisions, and who have already paid more than their share of taxes."

"If Labour is silly enough to add a new tax on savings to their election manifesto, the Taxpayers' Union will happily mobilise its 170,000 supporters to sink not just the tax, but the Labour-led Government."

The Union is running a social media ad highlighting Jacinda Ardern's previous promise not to introduce a wealth tax.

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