New Zealand Prime Minister Chris Hipkins revealed that he struck down a wealth tax and capital gains tax (CGT) that the Labour Party had been working on for the 2023 budget.
“I’m confirming today that under a government I lead there will be no wealth or capital gains tax after the election. End of story,” Mr. Hipkins said on July 12, ahead of the general election in October.
“With many Kiwi households struggling, now is simply not the time for a big shake-up of our tax system.”
Mr. Hipkins is maintaining former Prime Minister Jacinda Ardern’s position against implementing a CGT….