The Prime Minister says the Government has "no intention" of introducing a wealth tax "this term". Her announcement came this afternoon after she this morning 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, Jacinda 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." She said she had "no intention of introducing a wealth tax here in this term and we are doing no further work on it". Ardern said gaps existed in the measurement of wealth, but emphasised the Government was not working on any new tax policies.

Source: New Zealand Herald May 02, 2022 03:52 UTC