2. Question No. 2—Prime MinisterHon SIMON BRIDGES (Leader of the Opposition—National) to the Prime MinisterQuestion No. 2—Prime Minister2. Hon SIMON BRIDGES (Leader of the Opposition—National) to the Prime Minister: Does she stand by all her Government's statements policies and actions?Rt Hon JACINDA ARDERN (Prime Minister): Yes.Hon Simon Bridges: In relation to her statement that the Tax Working Group recommendations are about making the tax system fairer" is it fair that every small business farm bach rental property and lifestyle block will have to be revalued at the owner's expense if a capital gains tax is introduced?Rt Hon JACINDA ARDERN: The member is referring to the Tax Working Group report which the Government has received not Government policy. The Government is currently considering the recommendations and will refer back to the public any decisions we make in April.Hon Simon Bridges: Has she considered what it will cost a small-business owner to have their business professionally valued?Rt Hon JACINDA ARDERN: We will consider the costs and impacts on those decisions that we formally make and in consideration of any of the decisions that we formally make we'll factor those things in but as I say no decisions have been made.Hon Simon Bridges: Is she aware that if each of New Zealand's 500000 small businesses had to have their business revalued at $10000 each it would cost the wider economy $5 billion or about as much money as a capital gains tax would raise over the first four years? [Interruption]SPEAKER: Order! Order! Just before the Prime Minister answers there were at least three members not far away from the Prime Minister interjecting during that and it will cease.Rt Hon JACINDA ARDERN: The member is using hypotheticals albeit questionable ones. Again as I've said we are as a Government considering the Tax Working Group report and we've made no decisions.Hon Simon Bridges: When a top tax expert says $10000 is very much "an entry point for pricing" what does she say the cost will be for businesses getting valuations under the proposed regime?Rt Hon JACINDA ARDERN: Again we'll consider impacts on those areas in which we actually make a decision. The member is posing a hypothetical and no decisions have been made.Hon Simon Bridges: Is she aware that if each of New Zealand's 50000 farms had to have their land revalued at $10000 a go it would cost the economy half a billion dollars effectively doubling the cost of a capital gains tax for farmers over the first four years?Rt Hon JACINDA ARDERN: Again a range of hypotheticals; again I could delve into the sometimes questionable history the member has here with some of the scenarios he's presented but again these are working group recommendations none of which the Government has at this stage settled on.Hon Simon Bridges: In regard to her statement this morning that a capital gains tax should not over-complicate the tax system does she have a preference for the valuation methods on page 32 volume II of the Tax Working Group report: "Actual value" "Arm's-length valuation" "Comparison with similar properties" "Ratings valuations"—SPEAKER: Order! Order! Come to the question.Hon Simon Bridges: —well I am—"International Financial Reporting Standards … rules" a "volume weighted average price"—SPEAKER: Order! The member didn't; he'll resume his seat. Further supplementary?Hon Simon Bridges: Does she have a preference as to the valuations in the Tax Working Group report out of actual value arm's length valuation comparison with similar properties ratings valuations international financial reporting standards volume-weighted average price—Rt Hon Winston Peters: I raise a point of order Mr Speaker. Mr Speaker you stopped the Leader of the Opposition because of the extended nature of his question. You gave him a serious lead as to what was wrong with it and he's back repeating himself.SPEAKER: Yes I was just going to rule it out at the end.Hon Simon Bridges: Has she given the valuation methods in the report any consideration at all?Rt Hon JACINDA ARDERN: As we've repeatedly said in this House we're considering the report in its entirety and no decisions have been made.Hon Simon Bridges: What did the Tax Working Group recommend would happen if an asset was not valued within the five-year window and is it possible that an asset could be registered in the system at zero dollars?Rt Hon JACINDA ARDERN: I don't have responsibility for the recommendations made by the Tax Working Group. Again as we've said we're considering the report in its entirety and no decisions have been made. [Interruption]SPEAKER: Order! Order! I have a feeling that members want to stay here today for question time. There are two or three who are unlikely to if that sort of noise continues.Hon Simon Bridges: Isn't the issue of valuations of the proposed capital gains tax at the very heart of this the most significant tax reform in decades?Rt Hon JACINDA ARDERN: All of the matters that the Tax Working Group have put forward will be part of our consideration but again I simply make the point that no decisions have been made.Hon Simon Bridges: Does she agree that the recommended capital gains tax will hurt a wide range of New Zealanders and not just the wealthy given Labour list MP Ginny Andersen yesterday said in relation to the Government's proposed capital gains tax "To be honest it's probably not the 'rich pricks'; it's a whole bunch of people. It's across the board".?Rt Hon JACINDA ARDERN: Again the Tax Working Group recommended a broad-based capital gains tax for consideration by this Government. We have made no decision and when we do we will be informing the public and giving them ample opportunity to have their input as well.Hon Simon Bridges: Isn't Ginny Andersen correct—won't getting valuations and paying capital gains tax affect a whole bunch of New Zealanders right across the board?Rt Hon JACINDA ARDERN: Again no final decisions have been made. I would simply make the point that of course a number of other countries which we compare ourselves to have successfully implemented such schemes but again for us it's a matter of discussion and when we've made our decisions we will inform the Opposition at the same time as we will inform everyone else.Hon Simon Bridges: If it's a matter of discussion why won't she discuss it in the most important court of debate in the land—this Parliament?Rt Hon JACINDA ARDERN: For the same reason as when that Government introduced a capital gains tax they didn't say anything for four months."