Hipkins cancelled work on a wealth tax in July, which led to the resignation of his Revenue Minister, David Parker. The reports say the Taieri MP and chair of the Finance and Expenditure Committee Ingrid Leary has spoken in favour of a wealth tax or a capital gains tax. "The Labour tax policy is clear - we are not proposing a wealth tax or capital gains tax if re-elected. He says Leary's approval of a capital gains tax or wealth tax has won support from elsewhere, most recently, the back bencher Ibrahim Omer. "They want a wealth tax, they have got the Green Party next to them, who are absolutely gagging for a wealth tax and/or capital gains tax, so much so that they have made it a bottom line of their coalition talks.

Source: Stuff October 03, 2023 10:55 UTC