Prediction: Labour’s CGT policy dies before the election


We saw yesterday that the Labour Party keeps revising and updating their CGT policy that they provide on-line.  And in interviews, they can’t even come up with a consistent answer.

Worse there are so many reasonable “what if” scenarios that haven’t been thought trough, anyone with half an understanding of how real life operates can come up with an edge case that the Labour Party don’t have an answer for.

Well, they will have an “expert advisory group”.  That’s Labour-ese for “we make it up after we are elected the way it suits us”.  


Let’s keep this simple.

Labour say they want the CGT to cool down the housing market.

This is really just in Auckland, and perhaps Christchurch, but all of NZ needs to have a CGT.

Australia/Sydney have a CGT and house price inflation is rampant.

The family home is exempt, … they have no clue what conditions they need to cater for due to the wide ranging definition of a family home… and a family, oddly enough

And if your last parent dies, you have 30 days to sell the home.  30 days for probate, listing and a sale!

What it really is about is something to hit rich pricks over the head with.

Except there are lots and lots of people that have a modest family batch or holiday home, or a little flat for rental income that are themselves not in the rich prick category.

This policy is going to kill Labour.   A slow, steady strangling until they have no place left to go.

It’s too late to jettison – they have to try and make it work.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.