Jacinda Ardern rules out wealth tax this term

Jacinda Ardern says there's no possibility of a wealth tax this term. The debate was sparked last week after the Revenue Minister took aim at the lack of data the country holds on the rate of tax paid by the richest New Zealanders.

Prime Minister Jacinda Ardern.

"We are not doing any work on any additional tax policy. We have no other plans. Our policy has not changed, we are not doing any additional work and I stand by all the statements I've made to date," Ardern said on Monday.

"There has been some mischief made here where it does not exist. I accept it may be a slow news day, but we have no policy to report on and there's no election policy I'm putting forward for debate. My statements and position have not changed, end of story."

Ardern repeatedly spoke of the tax policy implemented this term, the creation of the current top tax rate, as being the only tax policy Labour has this term.

Earlier on Monday, National's Christopher Luxon said Ardern was "foreshadowing" a wealth tax, while ACT's David Seymour accused Ardern of "readying herself for the mother of all flip-flops" on wealth tax.

During a tax speech last week, Parker began by saying there was "no secret plan to introduce a capital gains tax or wealth tax".

On a response to recent tax data, Parker said any information that arises from the inquiry should be available to all political parties by the time of the next election.

Parker said the current survey data collected "effectively ignored the wealthiest", and called the NBR Rich List a better indicator of wealth than the surveys New Zealand has.

When pressed whether Labour would be announcing tax proposals at election 2023 based on the data collected, with a possibility of the data showing disparities between the wealthiest and income earners, Parker said, "we'll have to wait and see".

On Monday, Ardern said in terms of the data collection, that with any policy "you always check it's doing what you intend".

"The simple question that David Parker and we as a Government are asking is, is everyone paying their fair share? Our tax system is set out in such a way that that is the expectation, now let's just check that's what is happening."

When asked if the data collected would shape policy proposals for the 2023 election, Ardern reiterated that policy needed to be checked it would operate as intended and taxpayers would want to know people are paying their fair share.

"That's not an unreasonable question to ask and ensure we have the data to answer that. We have gaps at the moment."