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No capital gains tax coming from either Labour or National, Ardern and Collins promise voters

Labour Party leader Jacinda Ardern says she won’t be bringing in a capital gains tax under her leadership if she’s elected back into Government.

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CGT had once been a cornerstone policy for the Labour Party leader in her 2017 election campaign. Source: 1 NEWS

Coalition partner New Zealand First stopped Labour from bringing in a capital gains tax last year.

The policy had been one which Ardern personally wanted to get through and campaigned hard on during the last election.

During tonight’s leaders’ debate, Ardern said not seeing the capital gains tax policy to fruition wasn’t through a lack of trying.

“As a member of the Labour Party we consistently took a capital gains tax to voters and at some point you have to accept voters don’t agree with you and I accepted that.”

When asked by moderator John Campbell if she’d still like to see a capital gains tax brought in, Ardern said despite still believing in the policy she wouldn’t be bringing it in under her leadership.

“I’ve given my word. You will not have a capital gains tax under a Labour-led government that I lead.”

National Party leader Judith Collins says bringing in a gapital gains tax is a slippery slope. She says KiwiSaver and shares could eventually be included in it too.

“Isn’t the answer to build more houses?” Collins asked.

When asked what was wrong with bringing in a capital gains tax, Collins says New Zealanders couldn’t tax their way out of a housing crisis.

Despite not being able to bring in the policy, Ardern says she hasn’t lost her ambition for housing and making sure first home buyers can get into the market.

She says under her Government they’d increased the number of first home buyers into the market.

However, Collins argued house prices had risen by 27 per cent under the Labour Government.

Ardern says her Government wasn’t able to solve a housing crisis in three years.