TODAY |

Jacinda Ardern not 'ruling anything in or out' after capital gains tax recommended by Working Group

Prime Minister Jacinda Ardern won't commit to any tax reform despite the Tax Working Group report released today recommended a comprehensive capital gains tax.

The group estimated the $8 billion that would be raised over five years could go towards changing the bottom tax rate and reducing tax on KiwiSaver for low and middle-income earners.

READ MORE: Capital gains tax recommended by Working Group as well as adjusting lowest income tax rate to create 'fairness' in system

    Your playlist will load after this ad

    Sir Michael Cullen’s tax working group has said NZ should introduce the controversial tax on property sales. Source: 1 NEWS

    "We’re going to give the public a little bit of time, we’re going to take a little bit of time to form some consensus around the Government’s response," she said.

    "As you can see in the report there are some areas where everyone agrees, and there are some areas where the group did not, it’s our opportunity as government to go away, take a little bit of time, build some consensus and then come back to the public."

    "We are not ruling anything in or out at this stage."

    Ms Ardern denied claims from the Opposition that it was a massive tax grab.

    "Of course, there’s a whole suit of ideas in this package, I also recall a time when the National party undertook a similar piece of work and it came back with some very similar suggestions."

    "They did what we’re now doing, which is to consider the report and build some consensus over what it is we will proceed with and what we won’t."

    She also said there would be discussion with her coalition partners and particularly NZ First after it was suggested that many of the recommended changes would not be palatable for the Winston Peters-led party.

    "In the same way that we progress with any matter in Government, we build consensus and that’s exactly the same process we will adopt in this case."

    "As a coalition Government everything we do involves dialogue, debate, conversation, and eventually a final position."

    "I really encourage members of the public to have their say."

      Your playlist will load after this ad

      The Prime Minister says she’s ‘not ruling anything in or out,’ including implementing a capital gains tax. Source: 1 NEWS