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Speaker 1: Let's look at this capital gains tax from Labour show.

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Speaker 1: We former Labor leader Phil Goff is with me this morning.

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Speaker 1: Feel good morning, Yeah, good morning, Ryan. Do you think

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Speaker 1: and I know you're a fan of this and we've

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Speaker 1: spoken about this, do you think if this goes well,

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Speaker 1: you then look to extend it because it is quite

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Speaker 1: narrow and focus.

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Speaker 2: Now. Yeah. I think the undertaking by Chris Hipkins was

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Speaker 2: that the tax would be introduced as set out and

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Speaker 2: would not be changed before the next election, which means that,

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Speaker 2: you know, look, you always change policy over time, but

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Speaker 2: you need a mandate for that policy, and that's what

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Speaker 2: he's saying that he'd be seeking. So nothing going to

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Speaker 2: be sprung according to what they're telling us in the

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Speaker 2: first term. And you know, I've been interested to see

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Speaker 2: the reaction to the tax and by a number of people.

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Speaker 2: I think some people say, look, it could be broader,

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Speaker 2: but generally a sense of relief that finally, after years

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Speaker 2: and years of Treasury advocating and the OECD saying you're

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Speaker 2: the only country in the Western world that doesn't have

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Speaker 2: such a tax you need one, that somebody's finally had

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Speaker 2: the courage to say, we're going to put one in

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Speaker 2: place for the sake of fairness and for the sake

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Speaker 2: of making sure we don't distort investment decisions by making

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Speaker 2: one area of investment tax free.

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Speaker 1: Do you think, how do you how do you when

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Speaker 1: you got your capital gains tax through your caucus? How

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Speaker 1: did with it was the people who wanted you to

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Speaker 1: go further? How do you stop them from linking and

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Speaker 1: disunity in the party?

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Speaker 2: Look, I don't think I think that has been exaggerated

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Speaker 2: in terms of the differences that might exist. Now, there

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Speaker 2: are always differences in caucus. I've never known a caucus

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Speaker 2: to be totally of one mind on controversial topics. I

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Speaker 2: think the greater nervousness at my time was that people

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Speaker 2: had always been frightened to bring in a capital gains tax.

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Speaker 2: It had been recommended, it was regarded as sensible, but

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Speaker 2: it was regarded as politically damaging. And you know, somebody

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Speaker 2: described it as a suicide note not within caucused it

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Speaker 2: from outside. So I think, you know, there would be

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Speaker 2: some pressure to say a wealth tax. I'm glad they

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Speaker 2: didn't go with a wealth tax because a wealth tax

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Speaker 2: is as yet reasonably unproven, And as Barbara Edmonds said,

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Speaker 2: I think quite frankly in her press conference yesterday, that

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Speaker 2: would be the one thing that would create a differentiation

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Speaker 2: with Australia and might encourage investment to go to Australia.

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Speaker 2: Nobody's going to have say, investments going to Australia because

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Speaker 2: of a capital gains tax, because they actually have one already,

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Speaker 2: they've had one since the nineteen eighties, and it's a

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Speaker 2: tougher capital gains tax than what we're implementing here. So look,

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Speaker 2: I think by and large the Caucus will say this

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Speaker 2: is our policy and we're going to get behind it.

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Speaker 2: There is an unanswered question that somebody leaked it. That

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Speaker 2: happens from time to time, which hunts are pretty fruitless usually,

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Speaker 2: and I think Hipkins is right to say, well, you know,

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Speaker 2: if you found a person it just leaked something, that'd

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Speaker 2: be gone. But they're not going to exert a lot

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Speaker 2: of time and effort trying to track down who might

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Speaker 2: have leaked it, if indeed it was leaked maliciously.

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Speaker 1: All right, appreciate your time. Phil GoF, former Labour leader.

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Speaker 1: For more from early edition with Ryan Bridge, listen live

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Speaker 1: to News Talks.

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Speaker 2: It'd be from five am weekdays, or follow the podcast

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Speaker 2: on iHeartRadio,