Chris Hipkins still has no public position on a capital gains tax, but says Labour will be campaigning on “tax reform”.
The party leader told Q+A that Labour would be announcing its tax policy later this year, ahead of the 2026 election.
He said too much investment was going into property rather than “productive businesses that create jobs”.
“We’ve got to rejig the tax system so that the burden of taxation is more evenly spread,” he said.
When asked directly if the party would be campaigning on a capital gains tax, Hipkins said: “We’ll campaign on tax reform… now, the exact nature of that, it’s not just a simple issue of this one tax or that one tax.”
“I’m not answering that today because we haven’t locked down our policy on that,” he said.
“Whatever you decide on tax — and this is the reason why I’m not answering it today — has to fit within a broader economic plan that includes where that money goes.”
Asked if he was ruling out a wealth tax, Hipkins repeated: “I’m not announcing our tax policy today.”
As Prime Minister, Hipkins ruled out introducing a capital gains tax because he wanted to give voters “certainty and continuity”.
“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,” he said in the lead-up to the 2023 election.
Who is scared of Donald Trump?
Q+A spoke to Hipkins a day after his former colleague Phil Goff was booted from his position as High Commissioner to the UK.
Foreign Minister Winston Peters said Goff’s position was “untenable” after remarks he made about US President Donald Trump.
Goff made the comments which led Foreign Minister Winston Peters to declare his position “untenable” at a Chatham House event. (Source: Chatham House/YouTube) (Source: Supplied)
Hipkins thought the former Labour leader had “overstepped the mark in terms of what you would expect from a diplomat”.
He was asked if he was worried “that we’re in a world where people are just so scared of saying anything about Donald Trump” over fear of retribution.
Hipkins responded: “Yes.”
“New Zealand should continue to stand up for New Zealand’s values. A lot of what Donald Trump is promoting is the total opposite of the things that New Zealanders care about.
“If you want an open economy, if you want a trusting democracy, if you want an inclusive community, these are things that are important to New Zealanders.
“Many of the things Donald Trump is doing are against this.”
Being straight-talking is important to Kiwis, Hipkins said.
He was then asked if he trusted Trump. Hipkins said he needed to be able to work with any leader Americans elected — which was why he preferred to criticise issues rather than individuals.
“Look. I’ve said that I’m avoiding that question.”
Q+A with Jack Tame is made with the support of NZ On Air.