No new taxes, aside from capital gains tax

Labour leader Chris Hipkins says his party will not cave to demands from potential coalition partners for wealth and inheritance taxes, declaring a capital gains tax will be the only new levy introduced if he becomes prime minister.

Hipkins also ruled out lifting current rates of income tax and company tax if Labour wins power, saying the only revenue changes he expected to see are the regular inflation readjustments to fees and levies that every government implements as part of the budget process.

Hipkins dismissed any suggestion he would allow minor parties to set his tax agenda.

“They can put them forward, but they can’t demand. They can’t force us to vote for them… If we’ve said that we won’t support them, we won’t support them.

“That’s it, end of story… That’s the bottom line in terms of what we will support. Absolutely.”