Confirmation that Labour considered a wealth tax and a capital gains tax, but then flip-flopped, shows Labour simply cannot be trusted on tax, National Leader Christopher Luxon says.

“As National has been saying for months, Labour has been cooking up both a wealth tax and a capital gains tax – and now has cynically tried to rule them out to protect their position in the polls.

“The Coalition of Chaos is plainly divided on tax, with the Greens hugely in favour of wealth taxes and Labour fighting internally over them. The chaos has come before the coalition. There is division within the parties on the Left, and between them on this core aspect of economic policy.

“You can’t trust Labour on tax. They ruled out the ute tax and brightline extension in 2020 and then promptly implemented them both after the election.

“So expect these taxes to be back on the table if Kiwis are saddled with the Coalition of Chaos.

“National is clear. You cannot tax your way to a strong economy.

“For six years, Labour has mismanaged the economy and relied on extra taxation and borrowing to pay for its wasteful spending – which is now $1 billion a week higher than when National was in government. The result is a recession and a cost-of-living crisis that all Kiwis are paying for.

“National will cut wasteful spending and get the books back in order – delivering tax reductions so the average income earner can keep almost an extra $1000 a year of their own money.

“A National government will manage a strong and growing economy that ends the cost-of-living crisis, lifts wages, provides tax relief and can afford better public services in health and education.”

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