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Speaker 1: Labour Party have their annual party conference this weekend. There

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Speaker 1: will be a vote apparently on the capital gains tax.

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Speaker 1: The vote will decide whether to move forward with the

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Speaker 1: idea and if so how Our former leader and Finance

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Speaker 1: spokesperson David Cunliff is with us on this David, morning

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Speaker 1: to you, good morning. Make the history of it and

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Speaker 1: the various attempts within the Labor Party over the years

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Speaker 1: to get it enacted. How will that play do you

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Speaker 1: think this weekend?

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Speaker 2: As you say, it's an idea that's been around a

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Speaker 2: long time in New Zealand's or must year he can

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Speaker 2: develop world and not having a capital gains tax, So

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Speaker 2: it's premature debate now. It's almost I would have thought

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Speaker 2: a no brainer. But let's just see at the matt

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Speaker 2: for the members.

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Speaker 1: What do you reckon will happen?

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Speaker 2: Look, I don't have any side knowledge on this, but

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Speaker 2: my sense is that both the finance spokesperson Barbara Edmunds

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Speaker 2: and the really new spost person Deva will probably favor CGT.

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Speaker 2: But I think that they'll leave it to the members

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Speaker 2: to kick the boarder around. There's a lot of reasons

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Speaker 2: why you do the CGT. It's fair it takes a

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Speaker 2: little bit of the heat of property speculation that evens

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Speaker 2: up and centers between asset plusses to help business work

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Speaker 2: and capital go forward. And you can use it for

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Speaker 2: it income tax offset. And you know, if you want

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Speaker 2: a broad based, low rate tax system, you probably want

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Speaker 2: to cut all sorts of income, whether they're from labor

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Speaker 2: or from capital. And it's just the smart and fair

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Speaker 2: thing to do.

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Speaker 1: And love you do you offset it with some sort

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Speaker 1: of compromise elsewhere or do you just sell it the

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Speaker 1: way you've just sold it.

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Speaker 2: I think it's very possible to over time use it

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Speaker 2: off sets and income tax. So you know, you teach

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Speaker 2: us doctors your farm and your farmers can take less

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Speaker 2: growth of or a cup in income tax in exchange

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Speaker 2: for realized capital gains usually excluding the family home being

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Speaker 2: brought in at some sort of rate just bordance tax

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Speaker 2: basement means and give offsets elsewhere.

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Speaker 1: What about the politics of it, say you're going and

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Speaker 1: if the podcasts are right, you've got some real growth

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Speaker 1: back in the economy. By twenty twenty six, you've got

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Speaker 1: a national lead government that goes, not only do we

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Speaker 1: not increase taxes, we're looking to cut them. The economy's rolling.

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Speaker 1: How do you sell that in an election?

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Speaker 2: You Well, firstly, this is new. In the last couple

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Speaker 2: of elections, cgts have actually poled really well, and one might,

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Speaker 2: with a right smile on your case, say CGT poll

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Speaker 2: better than the Labor Party. So it's unlikely there be

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Speaker 2: a net vote, and most middle grand national voters I

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Speaker 2: know would also support a CGT. Not so a wealth tax.

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Speaker 2: I mean a wealth tax has got a retrospective elepment

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Speaker 2: sometimes because it goes to accumulated wealth and high wealth

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Speaker 2: individuals might vote with their feet. So I think that's

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Speaker 2: a much risky proposition. I think Labour should be moderate

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Speaker 2: here and just do a sensible, relatively low rate, broad

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Speaker 2: based CGT.

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Speaker 1: Good insight. Appreciate it. David Candler, former Labour Party leader,

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Speaker 1: of course.

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