Prime Minister Jacinda Ardern has ruled out talk of a possible wealth tax, saying "we've already said our policy is not to introduce that". She said gaps existed in the measurement of wealth, but emphasised the Government was not working on any new tax policies. On Newshub's AM Show today, Ardern reiterated her pledge not to introduce a capital gains tax while she was Prime Minister but did not rule out a wealth tax, saying Labour was yet to form its 2023 tax policy. In the 2020 election campaign, Ardern was asked if she would resign as Prime Minister if her government did implement a wealth tax and replied: "I won't allow it to happen as PM." That had come after questioning about the Green Party's policy for a new 1 per cent tax on those with a net wealth of more than $1million.

Source: New Zealand Herald May 02, 2022 04:28 UTC