Will Labour tax us even more?

Grant Robertson won’t commit to confirming whether or not Labour will go into the 2017 election with tax increases on the policy platform.

But would Labour change the tax system to help pay for its promises? And would it address wealth inequality?

“We have rule out going into the 2017 election with a capital gains tax but that doesn’t mean I think the tax system is correct or balanced. I think we can create a fairer system, particularly one that cracks down on speculation in the property market.”

Labour had gone into the last two elections promising to lift the top personal rate “and we are looking closely again at that”, he said. ?

“I think it is core to the kind of fair society I think we should have, that those who earn the most contribute a little bit more to ensure everybody has better opportunities. I never resile from that. The exact detail of that is what we are working on.”

Robertson said 2016 was the year Labour would put forward more concrete policies.

As David Farrar points out:

People on the top tax rate pay 33% on income over $70,000 and 15% on top of that on good and services they consume. I reckon that is more than enough.

Those earning over $70,000 already pay 59% of all income tax in New Zealand.

I think the top tax bracket more than pay their way when it comes to taxation.

If Labour wants to run into an election promoting an envy tax then all power to them.


– Fairfax