Labour leader Chris Hipkins is set to front media this morning following the party’s announcement of a capital gains tax policy aimed at funding free GP visits.
Hipkins will be joined by the party’s finance spokesperson Barbara Edmonds and health spokesperson Ayesha Verrall at 10.30am, where they’re expected to take questions and expand on the details of the proposal.
If they win next year’s election, Labour has committed to introducing a set 28% capital gains tax on property, excluding key assets such as the family home, farms, KiwiSaver, shares, business assets, inheritances, and personal items.
Labour said nine out of ten New Zealanders would be unaffected with the revenue earmarked to support three free doctor visits per year for all New Zealanders.
The tax would take effect from July 2027 and would not apply retrospectively.
