Larry Williams Drive

No surprise. We weren’t imagining it last week. A wealth tax from Labour is definitely on the cards. We now know this because the Prime Minister was given plenty of opportunity to rule it out this morning but refused to. Do you need any more proof? You’ve got David Parker dedicating $5m to investigating how much tax the wealthy pay in New Zealand. You’ve got him giving a speech on it last week. You’ve got him refusing to rule out a wealth tax at the next election, only saying he has no plans to introduce it this term. And now you’ve got the PM leaving the option open too. Awkward, because if that happens… it’s yet another broken tax promise from Labour. Now we have to assume she will still be PM going into the next election, so that would mean a broken promise. Now the question is, what kind of wealth tax is Labour planning. The best-case scenario is that they only tax the very, very wealthy in New Zealand – the Bob Joneses and Graeme Harts and Rod Drurys – leaving most of us untouched by it. That has downsid