Capital gains tax key part of house affordability

The Government’s refusal to consider a capital gains tax that would help put a lid on property prices and increase wages shows it isn’t serious about making housing affordable in this country, says Labour’s Finance spokesperson David Parker.
“John Key and Bill English dismiss a capital gains tax out of hand. But in advice to New Zealand the IMF and the OECD both say a capital gains tax is important and appropriate.
“The Treasury said in its latest briefing to the incoming minister that the distortions in the current tax system around taxing capital need to be fixed. The former Secretary to the Treasury John Whitehead, free of political constraint after retirement, went further and expressly said a capital gains tax is desirable.
“The Reserve Bank in 2011 said the tax treatment for owners of rental property is relatively favourable to other countries and recommended consideration of policies in Australia where realised capital gains on rental properties are taxed.
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Top earners still gaining as middle NZ languishes

Despite taking a hit to their bonuses, the base remuneration for CEOs and managing directors is still rising faster than Kiwis’ wages, says Labour’s Finance spokesperson David Parker.

Base pay for chief executives last year rose 9.9 per cent, or $28,311 according to a survey out today. Coinciding with that was a fall in incentive payments, meaning total remuneration for CEOs/MDs rose on average by 2.3 per cent.

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Manufacturing and Middle NZ – Transforming NZ Job By Job. Speech to the EPMU 16/8/12

Welcome and thanks for coming out this morning, and joining with me, David Cunliffe, and your former President Andrew Little. Your local MP, Annette King, sends her apologies.
I know that all of you care about the jobs we need.
This was well emphasised by the EPMU and the CTU when you recently brought economist and manufacturing expert Gooran Roos to New Zealand.
Today I want to continue that discussion about how we can create a high wage economy that we will all benefit from. Continue reading


Government’s hands-off approach costing jobs

National’s hands-off approach to the economy isn’t working, as shown by another 2000 people losing their jobs this quarter, says Labour’s David Parker.

 

“Under National unemployment has grown by 57,000 people. In addition 150,000 have gone to Australia, the vast majority of which are should have been working here.

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