Labour Rules Out Green Taxes, But Still Has No Plan to Pay for Promises

The Taxpayers’ Union is challenging Chris Hipkins to explain how Labour would pay for its spending promises after ruling out the Green Party’s wealth and inheritance taxes.

Taxpayers’ Union spokesperson Tory Relf said:

“Chris Hipkins is right to supposedly rule out the Green Party’s wealth and death taxes, but taxpayers deserve to know how Labour plans to fill the gaping hole in its economic plan."

“Labour has announced around $18 billion in new spending without explaining how it will be funded. Its capital gains tax falls well short, and our analysis shows Labour’s policies leave a gap of roughly $8,000 per household."

“The reality is Labour’s numbers only stack up if someone else does the dirty work. Hipkins can paint the Greens as the bad guys now, but any Labour-Green Government will still need the revenue from these taxes when Labour’s own budget inevitably falls short."

“Hipkins wants voters to suspend disbelief and accept that a capital gains tax, plus more spending, will somehow make debt disappear. That is economics from the school of fantasy."

“Chris Hipkins must be honest with voters. If Labour won’t adopt the Greens’ wealth and death taxes, who else is he planning to tax instead? New Zealanders deserve honesty about who he wants to pay for his promises.”