Tax Hike for New Zealand’s Wealthy

August 27, 2013 New Zealand Taxation

David CunliffeThe Labour party could soon make a heavy push to hike taxes for the wealthy, if David Cunliffe comes to power.

On August 27th David Cunliffe, one of the candidates for the leadership position of the Labour Party, indicated that he would seek to raise taxes for the wealthy if he elected as the party leader.

David Cunliffe’s statement came as a response to a journalist questioning of whether he would seek to raise the taxes, to which he replied “… you bet,” although he refused to disclose the exact size and nature of the potential tax.

However, he did indicate that he has previously been an advocate of introducing a capital gains tax, and he would push a similar measure in the future.

He added that the current tax policies of the Labour Party call for a more progressive income tax system, a move which he would be endorsing.

David Cunliffe conceded that he would not yet reveal the tax policies he would endorse, as “I’m not going to pre-empt the process of finalising our policy … but I certainly believe we need a more equitable society … we will finalise our manifesto and everyone who earns a fair share should pay a fair share.”

Photo by cheetah100