Greens want early capital gains tax

Bernard Hickey

Bernard Hickey is the Managing Editor of Newsroom Pro and writes about politics and economics from the Parliamentary Press Gallery in Wellington. Twitter: @bernardchickey

Tim Murphy

Tim Murphy is co-editor of Newsroom. He writes about politics, foreign affairs, Auckland, and media. Twitter: @tmurphynz

With less than a week to go until the election, Greens leader James Shaw has reopened the capital gains tax debate by saying he would argue in any coalition negotiations with Labour for a capital gains tax in their first term.

In an interview with Corin Dann on TVNZ’s Q+A, Shaw said the Greens would push Labour to enact a capital gains tax in its first term, although he said it would not be a condition for support.

Labour had sought to neutralise the issue on Thursday by saying Labour would not enact a capital gains tax (excluding the family home) that applied before 2021. Shaw’s comment reintroduces the potential for an earlier capital gains tax and commentators said it gave National another chance to attack Labour over the issue.

“Shaw wants Ardern to do a CGT in 1st term. Labour slaps head, knowing it will spend next day denying it again. National rubs hands,” RNZ’s Tim Watkin tweeted this morning.

Massey University political scientist Claire Robinson also said National may look to revise its attack ads after the announcement.

Elsewhere in a full suite of live interviews with Bill English, Jacinda Ardern and Winston Peters, Peters said a capital gains tax would be off the table in any negotiations with Labour.

(Updated 10.15 am)

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