Pre-budget Speech on Tax by John Key

Good afternoon. So good to see so many of you here today. Even though this isn’t an official National Party fundraiser, thank you for the many, many cheques for exactly fourteen hundred and ninety-nine dollars. As always, these anonymous contributions will be passed directly to our friends in the media and black ops.

But I digrest. Today I’m here to give you some insight into our plans for the budget.

Recently there has been a lot of talk about the Auckland housing crisis. I can state here and now that there is no crisis. Absolutely no crisis. Everything is totally peachy. And if Auckland Council weren’t so fixated on trains and bus lanes they would be able to deal with the lack of supply causing this massive demand. There is no crisis in Auckland housing.

Some people have suggested we deal with the perceived issues in Auckland by introducing a capital gains tax. A capital gains tax will not work. It hasn’t worked in Australia; house prices are still rising. A CGT will be impossible to administer. Inland Revenue will be forever chasing up home and business owners. All our research shows is a CGT costing the country millions of dollars and not delivering the results needed for struggling Kiwi families.

That is why I’m excited to announce a capital gains tax to deal with the Auckland housing crisis.

Thank you and good afternoon.


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