National rules out proposed bed tax and bank tax in promise of no new taxes if the party's reelected in November's election

National has ruled out a bed tax and bank levy if re-elected next term.  

Finance spokesperson Nicola Willis said under National there would be no new taxes on the table.  

 “That includes no accommodation levy or bank tax," she said.  

“We determined there is no way to do an accommodation levy without increasing costs on Kiwis booking a weekend away, so we’ll look at how existing mechanisms could be used to support councils with the costs of tourism.” 

Prime Minister Christopher Luxon previously suggested the bed and bank levies could be explored in a second term. 

Auckland mayor Wayne Brown has long been advocating for Auckland to have a ‘bed night’ visitor levy. This levy would mean visitors to the city would pay a 2.5% to 3% levy when they stay in short-term accommodation. This would require a change in legislation. 

If legislation did change, Auckland Council suggests the ‘bed night’ levy would raise around $27 million annually to fund more major events and activities. 

The Reserve Bank recently released a prudential levy consultation paper, estimating the tax would raise $209 million over three years from deposit takers - including banks- insurers and financial markets infrastructure providers.  Plans for this tax were announced by Willis in May's budget.

Willis said no new taxes this election reflects “our disciplined economic management, focused on growing the economy, creating jobs, lifting wages and keeping taxes low.”