22 Sep 2011

Capital gains tax a game-changer, says Goff

4:00 pm on 22 September 2011

Labour leader Phil Goff has been warming up for the election campaign, telling a business audience that his party's capital gains tax policy is a game-changer.

Mr Goff used his speech to the Wellington Employers' Chamber of Commerce to outline Labour's jobs, training and economic policies.

He said Labour was offering an alternative approach to growing the economy and getting New Zealand out of its deficit situation.

He joked that past Labour governments he has been part of have all viewed a capital gains tax as political suicide, but said that though it might not be popular, it was responsible, because the country needs to pay down debt.

"I was going to say (it's) a courageous thing to do but I've watched too many episodes of Yes Minister to use that word.

"It is the right thing to do by New Zealand and it is a game-changer for this country."

Mr Goff told the business leaders that New Zealand also faces big challenges in increasing employment opportunities and improving the cost of living.