Tax claims fly around parliament as National targets Labour over tax

It was Prime Minister Christopher Luxon's leadership last week, and it's tax this week.

National has turned up the dial on its tax attack on Labour as it looks to move on from tis leadership kerfuffle.

Part of that was a reigniting of a claim from National in June of Labour's  shortfall, or "hidden bill," of $18 billion of spending promises, in which it lumped together Green Party, Opportunity Party and Te Pāti Māori policy that it claims Labour will implement. 

Labour leader Chris Hipkins has said repeatedly he will not support the the Opportunity tax policy.

"We also won’t support the wealth taxes, land taxes and other things put forward by the Greens either", Hipkins said on TVNZ's Breakfast. 

"We’ve got one simple tax policy which is a simple targeted capital gains tax (CGT), that’s as far as we’re going to go.”

He described National's figure as "a bit pathetic" and a "misinformation campaign."

But National's Finance spokesperson Nicola Willis said the $18b figure was not disingenuous.

"They have not explained how they will fund it, and we know that they will turn to [Green Party co-leader] Chlöe's Swarbrick, the Opportunity Party, and Te Pāti Māori for ideas on how to fill the gap.

"And they’ve provided them detailed ideas: inheritance tax, wealth tax, asset tax, higher corporate tax, higher personal tax, and Labour themselves are not being straightforward about their own tax position."

Asked if the same argument could be made with how National would pay for its coalition partner policies, such as New Zealand First's pledge to buy back BNZ and the $1b oil and gas survey, Willis said, "we've got a track record."

 "We've had low operating allowances. We've tracked very tight budgets...

"New Zealanders need to know the choice at this election, is between a rabble of parties on the left who want to increase taxes, spending, and borrowing, and a centre-right government led by National that wants budget responsibility and low taxes."

Labour faced heat this week over MP Willie Jackson's proposal for a streaming levy, aimed to finance local production.

Shortly after National campaign chair Simeon Brown pointed out that Labour had that as a member's bill - which are the proposals of individual MPs that only go through Parliament if pulled from a ballot or with a certain level of support from MPs - the policy was pulled.

Hipkins said it was an "administrative oversight" that bill had not been withdrawn, despite the previous week telling Stuff Labour would not be actively campaigning on introducing a streaming levy.

Asked what Labour planned to cut to fund its promises if it was only implementing the CGT, its finance spokesperson Barbara Edmonds said; "it’s all about choices and so I'm more than happy to make those difficult choices, and everybody will be able to see most of what those choices are as part of our fiscal plan."

Labour would release that after Treasury's pre-election economic and fiscal update is released ahead of the election.

"We will make sure that our fiscal plan is balanced. We will ensure that it does not cut back on the public services that New Zealanders rely on, and we will make sure that it all adds up," Edmonds said.