Another Labour MP has undermined Chris Hipkins by questioning the scope of his Capital Gains Tax, raising fresh questions about the credibility of his promise not to expand it, National's Campaign Chair Simeon Brown says.
"According to The Post, Helen White expressed disappointment at a public meeting that Labour's policies do not go far enough in reducing the value of homes, specifically referring to the party's new Capital Gains Tax.
"If Labour MPs believe the point of their new Capital Gains Tax is to reduce the value of houses, where will the foregone revenue come from?
"It seems increasingly likely that Labour is campaigning on a 'targeted' tax change but will make sweeping tax increases if elected. In 2020, Labour ruled out any tax changes beyond its 'targeted' new top tax rate, before extending the bright-line tax, banning interest deductibility and implementing the Ute Tax soon after being elected.
"Did Chris Hipkins argue against those changes in cabinet as one of its most senior ministers at the time? If not, why should he be believed that he'll stick to his 'one targeted tax change' this time?
"With $18 billion in unfunded spending promises, before you even consider the $49 billion being promised by the Greens, Labour's CGT is simply the starting point for a significantly broader tax grab.
"With White's latest comments, it appears the current scope of Labour's Capital Gains Tax is not supported by a growing number of their own people or any of Labour's coalition partners.
"Influential Labour candidate Craig Renney published a book after being selected that argued for a far broader CGT than the one Labour is campaigning on. And just last month, the union he works for as its Policy Director released a manifesto saying a comprehensive CGT is just 'the starting point.'
"Earlier this year, Labour's Revenue Spokesperson Deborah Russell wouldn't say whether Labour's CGT went far enough and just two weeks ago, she refused to rule out expanding the policy, saying only that she has no plans to 'at this stage'.
"And this is all before you get to Labour's radical coalition partners that want to tax New Zealanders into oblivion.
"New Zealand's economy is getting stronger and outpacing Australia, the US and the UK, thanks to the hard work of households and businesses, backed by a National-led Government managing the books responsibly.
"National's plan is working, and we need three more years to finish the job.
"The only way to stick with the plan that is working and to stop Chris Hipkins and Chloe Swarbrick getting their hands on the country's finances is to give your party vote to National."
