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PM Hipkins says no capital gains tax in 'no frills' Budget 2023

17:26 pm on 27 April 2023

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The Prime Minister has hosed down the idea of a capital gains tax.. a day after his government released a report highlighting the unfairness in the tax system.

Speaking to a business crowd in Auckland, Chris Hipkins promised there would be no new taxes in the Budget, ruling out a Capital Gains Tax, wealth tax, and Cyclone levy.

He says Labour will make its tax policy clear ahead of the election - and wouldn't rule out changes to the income tax thresholds.

RNZ political reporter Giles Dexter has the details.