Giving a fig about Labour's tax policy options

Grant Robertson loyally explains how Chris Hipkins ditched his wealth tax plan. (Image: BusinessDesk)

Thu, 13 Jul 2023

Christopher Luxon must be feeling lucky today.If Chris Hipkins hadn’t bottled on Labour's wealth tax plan, the election would have been fought against a backdrop of every taxpayer getting a $20 a week tax cut from Sept 1 – six weeks out from the election – and a wealth tax affecting barely 1% of the population.That’s what the budget advice, released on Wednesday by finance minister Grant Robertson, shows the Labour cabinet was working on until some time in mid-March when Hipkins took fright.In the job for barely six...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

Penk announces compulsory building warranties

Under the proposed change, those responsible pay their share only.

Staff reporters 12:20pm

Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 9:40am