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Tax Justice Aotearoa (TJA) and the Better Taxes for a Better Future Campaign is calling on the Labour Party to go for the best, most comprehensive version of a tax on the income from capital gains (CGT), as an essential part of a better tax system.

“Tax Justice Aotearoa (TJA), along with numerous public opinion polls and expert commentators  support a CGT because it has the promise to deliver real benefits for New Zealand”, says Glenn Barclay, Tax Justice Aotearoa spokesperson. ” We will support Labour and any political party that commits to a CGT that will deliver on that promise”.

A CGT has the potential to generate significant revenue to fund our hospitals, schools and transport networks. It would make our tax system fairer.  It could also help rebalance our economy to encourage productive investments, and discourage property speculation that drives up housing prices. But TJA warns that a CGT will only deliver for New Zealand if it is as comprehensive as possible.

“A majority of New Zealanders support some form of capital gains tax because they realise our current tax system is broken, it is not generating the revenue we need to maintain our health system and critical infrastructure, it provides a giant loophole for the wealthy to avoid paying their fair share of taxes, and it is not supporting a productive economy”, says Glenn Barclay.

“But they don't support a CGT for the sake of it. They support a CGT that will address these issues and deliver long-term benefits to New Zealanders. So it is important that we get the CGT settings right, and that it is accompanied by other tax changes.”

“Thomas Coughlan's recent article in the NZ Herald suggests the Labour Party will opt for a CGT, but that it will not be comprehensive and there might be exemptions that would dramatically lower the revenue the new tax would gather,” says Glenn Barclay.

“The article suggests it would raise barely 39% of a broad CGT's revenue. This would be wholly inadequate to meet the challenges we face in healthcare, education, climate change and infrastructure, and would barely move the dial on wealth inequality and the housing market.”

While it is not clear if this accurately represents Labour's current thinking, TJA is taking this opportunity to set out the settings required for a CGT that has that can deliver for New Zealanders:

The CGT needs to be as comprehensive as possible, covering all forms of significant assets,  but with an exemption for the principal family home.
It should apply to individuals, companies and trusts that own assets.
It should be payable when the asset is sold or transferred.
Income from capital gains should be taxed like any other source of income to mitigate the risk of tax avoidance which will happen if lower tax rates apply, because wealthier people are more likely to own assets which make taxable capital gains.

“We acknowledge that committing to a proper CGT requires political determination, but this is what this moment calls for: a time when New Zealanders are increasingly uncertain about their futures and those of their children”, says Glenn Barclay.

“We hope that Labour will step up and show the necessary leadership to put a proper CGT before voters in the 2026 Election. Polling indicates that the majority of New Zealanders would get behind them and vote for a CGT that will deliver real benefits.”

The Better Taxes for a Better Future campaign is calling for a tax system that grows revenue and ensures that those who can afford it contribute more to our collective good. A comprehensive CGT is an essential part of a better tax system and would bring us into line with the vast majority of other countries who already have a CGT.

18 September 2025 – A new member of the Reserve Bank of New Zealand's (RBNZ) Monetary Policy Committee (MPC), Hayley Gourley has been appointed by the Minister of Finance Nicola Willis on the recommendation of the RBNZ Board.

The MPC is responsible for the monetary policy decisions needed to support price stability.

Agribusiness executive Hayley Gourley starts a four-year term on 1 October, replacing Professor Bob Buckle who retires from the MPC at the end of September 2025. Hayley Gourley will take part in the October Monetary Policy Review.

“We are delighted to welcome Hayley to the MPC. She is a highly qualified candidate with the appropriate knowledge, skills and experience from an extensive career in corporate, rural and financial services sectors to join the MPC and assist in its decision-making,” RBNZ Board Deputy Chair Rodger Finlay says.

“Her business experience at both board and executive management positions in some of New Zealand's leading agribusinesses will add a fresh perspective to Committee discussions.”

Hayley also has a Master of Science (M.Sc) in Agricultural Economics from the University of London/ Imperial College and attended the London Business School under the Rabobank senior leadership programme. She has a Bachelor of Applied Economics, Agricultural Economics, from Massey University.

“We look forward to working with Hayley soon,” Governor and MPC Chair Christian Hawkesby says.

“The MPC remains laser-focussed on its job to control inflation and Hayley will play an important part in our discussions.”

“I'd also like to thank Professor Buckle for his significant service on the Monetary Policy Committee for many years, at an especially turbulent time during Covid-19,” Mr Hawkesby says.

“Bob is the sole remaining inaugural external member of the MPC, starting in 2019, when the Committee was first formed.”

Source: Palestinian Solidarity Network Australia (PSNA)

PSNA is renewing demands that New Zealand end its military support for Israel in response to today’s findings by an independent UN commission that Israel is conducting genocide in Gaza.

As well as demanding Israel cease its mass killing and mass starvation in Gaza, the commission is also appealing to governments to “employ all means reasonably available to them” to “cease the transfer of arms and other equipment or items” which could be used by Israel to continue the genocide.

“The government says it has no direct evidence and goes out of its way to avoid finding any” says PSNA Co-Chair Maher Nazzal. “Such ducking and diving fools no one. It’s an embarrassment”

For decades, Rakon has supplied crystal oscillators to the US for guided munitions, which end up killing civilians and destroying civilian infrastructure in Gaza.

“Why is it so hard for the government to suspend these exports while it conducts an investigation?”

Rocket Lab is launching satellites from its Mahia base for Black Sky Technology, which provides quality images to the Israeli Defence Force in its bombing of occupied Gaza and the occupied West Bank.

“Why is our Minister of Defence refusing to even ask Rocket Lab or Black Sky about this aid to genocide?”

“Why are these launches not suspended while the government investigates?”

“Meanwhile, every day our GCSB spies are passing over surveillance information to the US, which shares this with Israel. Why is there no investigation into this by the government?”

It seems currying favour with the US and its genocidal sidekick Israel trumps our loyalty to international law and our responsibilities under the genocide convention.

“Our government is part of the western disease – complicity with genocide”

This UN confirmation of genocide should be the wake-up call the government needs to support international law without fear or favour.

Maher Nazzal

Co-Chair PSNA

• Appendix: Part of the recommendations of the UN independent Commission includes:
• The Commission recommends that all Member States:
• (a) Employ all means reasonably available to them to prevent the commission of genocide in the Gaza Strip;
• (b) Cease the transfer of arms and other equipment or items, including jet fuel, to the State of Israel or third States where there is reason to suspect their use in military operations that have involved or could involve the commission of genocide;
• (c) Ensure individuals and corporations in their territories and within their jurisdiction are not involved in the commission of genocide, aiding and assisting the commission of genocide or incitement to commit genocide and investigate and prosecute those who may be implicated in these crimes under international law;
• (d) Facilitate the investigations and domestic proceedings and take action (including imposing sanctions) against the State of Israel and against individuals or corporations that are involved in or facilitating the commission of genocide or incitement to commit genocide;
• (e) Cooperate with the investigation of the Office of the Prosecutor of the International Criminal Court.

Late this afternoon PSNA sent this self-explanatory letter to the Prime Minister.

Letter sent to Prime Minister

Rt Hon Christopher Luxon

Prime Minister

Parliament Buildings

Wellington.

Kia ora Mr Luxon,

Appeal for New Zealand to demand International Humanitarian Law protection for Gaza-bound aid flotilla

An international flotilla of ships and boats is sailing towards Gaza loaded with humanitarian relief supplies for the beleaguered Palestinians living there and suffering from Israeli-perpetrated mass killing and mass starvation of the population.

The people on the flotilla represent the very best of human values and are standing up for humanity when many governments, including our own, are failing to uphold these values.

We are requesting our government inform Israel that Aotearoa New Zealand expects them to facilitate the entry of this humanitarian convoy so it can deliver the desperately needed food, water and medical supplies.

Already 16 other countries have made this request of Israel to respect International Humanitarian Law. These countries are: Türkiye, Qatar, Bangladesh, Brazil, Colombia, Indonesia, Ireland, Libya, Malaysia, the Maldives, Mexico, Pakistan, Oman, Slovenia, South Africa, and Spain.

We want New Zealand to join this call.

Unfortunately, In the past Israel has attacked and boarded vessels bringing aid to Gaza, killing many people and illegally detaining others. Israel has already launched at least two drone attacks on vessels which are part of this flotilla.

There are three New Zealanders aboard this international flotilla and we want our government to stand up for them and for all the internationals taking part in this mercy-mission to Gaza.

Please respond urgently to this appeal.

We look forward to hearing from you shortly.

Ngā mihi.

Nā,

John Minto

Co-Chair PSNA.

Source: NZCTU Te Kauae Kaimahi

NZCTU Te Kauae Kaimahi Economist Craig Renney is saying that new GDP data released by Statistics New Zealand demonstrates the scale of the problems in the economy, and the desperate need for economic policy change.

“The economy fell 0.9% last quarter. The Reserve Bank forecast a 0.3% fall, and the Treasury had previously forecast a 0.7% increase. Together with recent poor labour market data, it's clear that the government's approach is not working,” said Renney.

“GDP fell in 10 out of 16 industry sectors. Manufacturing fell 3.5% in just three months, and mining was down 4.1%. Retail trade fell, and financial services fell. Business services fell. Healthcare and social assistance fell. Agriculture, forestry, and fishing fell.

“Across the past 15 months, the economy has been in decline for 9 of them. This isn’t due to one-off factors such as tariffs – this is an economy with no plan and no direction.

“Quarterly GDP per capita fell back into the red again and is now lower than it was in 2021, even after adjusting for inflation. Business investment fell in plant, machinery, and transport equipment. Residential construction fell 1.9% this quarter. The indicators that might support growth in the future are falling.

“We have consistently called for the government to change track on the economy. For action on rising unemployment. For action on investment in crumbling public services.

“This latest GDP data confirms the Government's approach has failed. This should be a wake-up call that tax cuts and public service cuts aren’t delivering the economy that New Zealanders deserve or need,” said Renney.