“We’ll continue to work with Labour to make our tax system fairer,” Green Party Co-leader James Shaw said today following the Government response to the Tax Working Group release.
“The Green Party has long called for a capital gains tax as a way to level the playing field for hard working New Zealanders who have struggled to get ahead.
“Taxing income from capital the same way we tax income from work would reduce the wealth gap, fix the housing crisis and build a more productive, high-wage economy.
“We’re particularly disappointed that the Tax Working Group’s unanimous recommendation to implement a capital gains tax on investment properties isn’t going ahead.
“Generations of New Zealanders locked out of the property ladder shouldn’t be left in an unfair position for life.
“The Green Party will continue to work with Labour on ways to make the tax system fairer, more progressive, and to advance other proposals in the Tax Working Group report such as pollution pricing,” says James Shaw.