National's wealth tax claims rubbished by Labour, Greens

4:59 pm on 11 October 2020

The National Party is on a campaign mission today, heading to all corners of Auckland as Judith Collins links up with volunteers for what she calls "Stop the Wealth Tax Day".

But Labour is rubbishing National's claims that if elected, Labour would introduce a wealth tax, saying these suggestions are misinformation, mischievous and wrong.

Judith Collins on the campaign trail at Smales Farm markets in Auckland on 11 October 2020.

Judith Collins on the campaign trail at Smales Farm markets in Auckland today. Photo: RNZ / Yvette McCullough

Collins began her Sunday at Smales Farm Market in Takapuna, decked out in a bright blue National jacket and hat. She was well received as she moved through the stalls buying oysters, limoncello, and a mug with her likeness on it, with members of the public asking for selfies and wishing her luck.

Unlike her walkabout earlier this week there was no mistaking who her supporters were, all similarly clad in National merchandise.

Collins says her mission today was to let Aucklanders know what they risk from a Labour/Green government.

"Those who own an average Auckland house, have paid down their mortgage or saved for their retirement are at risk of the wealth tax... The burden on the tax will be particularly felt by the elderly and those who have saved for their retirement.

"Labour have already promised to raise income taxes, but the wealth tax will be a point of pride for a Labour/Green Government desperate to raise revenues to pay off its spending. Having sprayed money at short term solutions to the economic crisis, their wealth tax will be a way to pay off the debts they have racked up.

But Labour has repeatedly ruled out the Greens' wealth tax policy, and today, party leader Jacinda Ardern and finance spokesperson Grant Robertson ruled it out again.

"I consider that the last roll of the misinformation dice. We have obviously put forward our tax policy and that is what we are taking to voters this election. Any suggestion of picking up other parties' plans is mischievous and wrong," Ardern says.

"From what I can see, unfortunately it does appear... the National Party are trying to cause distractions. That is not going stop us from focusing on our plan, the stability we offer and the unity that we offer as a team."

Collins claims she knows that bringing in a wealth tax is "what [Ardern] wants to do."

"The other thing is ... when the Greens put a bit of pressure on them, of course they will give in".

She denies she is scaremongering and did not answer when asked today if she was campaigning on a "fear platform".

She says she does not believe Labour's categorical ruling out of implementing Green Party tax policy.

"They will do anything to be in government."

When challenged that she was being dishonest, Collins repeated her claims that Labour would go against its word.

Green Party co-leader James Shaw says Collins is creating fear among older voters and has accused National of getting its numbers about Greens tax policy wrong again.

National's claim is that a retiree in Auckland with the recommended savings at retirement, and a mortgage free house at the median value, would pay more than $7000 per year under a wealth tax proposed by the Greens.

Shaw says that's totally untrue, as the one percent wealth tax would only apply to assets over $1m, and only once a mortgage was paid off.

Shaw says the tax is individualised, so even if a couple owned a $1.2m house they would not pay any wealth tax.

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