Three years ago John Key asked then-Labour leader Phil Goff to show him the money and he couldn’t.
Last night the Prime Minister asked Labour’s current leader David Cunliffe if people who’s home is in a trust would have to pay a capital gains tax and he wouldn’t answer.
If it would it would hit more than 200,000 families.
There is no tax advantage for having a home in a trust but people use trusts for other reasons.
Even if homes in trusts wouldn’t be hit, farms and businesses would be. That would impose extra costs and reduce profitability.
The PM asked Cunliffe if New Zealand already has a CTG, he said no.
The PM responded that he knows the tax code and we do.
He also pointed out that a Labour/Green government would add five more taxes.
That’s a big point of difference.
National will continue to manage public spending well and let people keep more of their own money; Labour and the Green Party would tax more so they can spend more.