12 Jul 2023

Labour says no to capital gains tax, despite researching it

From Checkpoint, 5:07 pm on 12 July 2023

Labour Leader Chris Hipkins has dropped an election year bombshell from the other side of the world, confirming his party won't introduce a capital gains or wealth tax under his leadership.

The commitment came as a slew of documents revealed Labour had in fact been looking to introduce such a tax.

The decision is testing Labour's relationship with its coalition partners, with one saying Mr Hipkins' call has effectively ended negotiations before polls have even opened.

Here's our political reporter, Katie Scotcher.

Our political editor Jane Patterson is travelling with the Prime Minister to the Nato summit in Lithuania and spoke to Lisa Owen.