Simon Bridges says Government's warming up to a capital gains tax

Monday, 26 November 2018

National to repeal capital gains tax if they win next election

National Party leader Simon Bridges says new taxes have made it harder for Kiwis to get by, and the Government 'warming up' to a capital gains tax will worsen things.

A year into opposition, Bridges has started his 'Have your say' campaign, to crowdsource policies for the 2020 election.

In his speech to Aucklanders at Parenting Place on Monday afternoon, Bridges promised not to introduce any new taxes during National's first term if elected in 2020.

Bridges told media a capital gains tax was very likely and any proposed exceptions for it were 'even more preposterous'.

'New Zealanders are taxed more than enough,' Bridges said.

**READ MORE:

National party leader Simon Bridges has promised to not introduce any new taxes during its first term if elected in 2020.

* Simon Bridges calls National a 'trail blazer' for ethnic communities

* Dirty, ugly, nasty politics with no end in sight

* Bridges-Ross call shows National has 'cash for candidates policy', Winston Peters says**

'No new taxes. Jacinda Ardern also made that promise but she didn't keep it and it looks like they're warming up to a capital gains tax. We will repeal that tax, we don't need any more, it's bad for our country.

Bridges said the TWG's interim report created uncertainty and people were factoring it into their decisions already.

'People are deciding to invest less, to do less. We want to be clear with New Zealanders, we will repeal a capital gains tax.'

In his speech, Bridges said costs were increasing more than wages.

'It's becoming more expensive to get by, the Government is taking more of what you earn, and incomes aren't rising fast enough. The Government has more and you have less. That's wrong.'

Accountant Leon Chapman says he welcomed Simon Bridges' comments on scrapping the regional fuel tax and a possible capital gains tax.

'The Government is imposing a raft of new taxes and regulations on landlords including ring fencing of losses, extending the bright line test, changing the Residential Tenancies Act, introducing more costly standards and threatening a capital gains tax.'

Bridges also criticised the rise in petrol, rents and the Government's 'good intentions that have resulted in bad outcomes'.

'Petrol prices also recently reached record highs. It not only costs you more to rent your house – it costs you more to drive to and from it.'

'The Government have banned letting fees. But landlords are now being charged more rent to cover these new costs. Some are even selling up because it's become too expensive, too difficult and too complicated. Fewer rentals, higher rents. Good intentions, bad outcomes.'

Real estate salesman Dave Upfold says the Government had enough money with the GST increase and was double dipping with the Regional Fuel Tax.

If elected, and if the Government legislated a capital gains tax, National would get rid of it, Bridges said.

He also said National would increasing funding for core public services such as health, education and transport.

'So when we see tax relief for every New Zealander replaced by a $3 billion regional slush fund which resulted in $160,000 of trees being mulched, or a $2.8b fees free policy that saw 2400 fewer students in tertiary education, and at least $250m on 190 working groups because the Government didn't do the work in Opposition, we know they're not spending wisely.

'All of these are examples of this Government taking money off New Zealanders, money which they could be using to help make ends meet, and wasting it.'

Accountant Leon Chapman said he welcomed Bridges' comments on scrapping the regional fuel tax and a possible capital gains tax.

'Capital gains tax will just penalise people who are prudent in their living and save for their old age and pension. It will increase rents, it's a bloody stupid idea,' Chapman said.

'I'd like to see everything that Labour's done to be reversed. The fuel tax is nonsense. I live in Pakuranga, [the light rail] wouldn't affect anybody.'

Real estate salesman Dave Upfold said the Government had enough money with the GST increase and was double dipping with the Regional Fuel Tax.

'Politicians can change their minds but he's made the commitment and if you make a commitment you have to stick to it,' Upfold said.

'The regional fuel tax can go out the window.

'The country doesn't need more money, it needs to spend more wisely.'

Bridges said he wanted to bring more Kiwis back home from Australia.

'When we came into government, 30,000 people were leaving for Australia. We turned that around.

'We want to make New Zealand the place where people want to live, work and raise their families.'