Goodhew Jo: General Debate 
Goodhew Jo: General Debate 
[Volume:673;Page:19832] 
JO GOODHEW (National—Rangitata) 
: 
 Tena koe Mr Speaker. Well the beavers on the third floor of Parliament House have been very busy considering all of the possibilities that could possibly be sold to the voting public as semi-credible ways of paying for Labour’s big spending promises. Whoops! Did I say “semi-credible”? I think I meant incredible or hardly credible or not credible at all. 
Let us reflect just on the big spending promises that Labour has already put on record. On an annual basis Labour will need to find $1.5 billion a year to pay for the $5000 tax-free threshold for everybody paying tax and the GST taken off fresh fruit and vegetables only. Add to that not implementing our KiwiSaver changes or our Working for Families changes—changes that would make those schemes sustainable I might add—implementing a research and development tax credit putting money into the superannuation fund and not adopting the mixed-ownership model and that will cost $4.5 billion each year. Boy it is really easy to overspend when Labour wants to get back into Government no matter what at any cost at all costs. 
Do members know why Labour wants to be back in Government? Because its members believe that they know better how to spend taxpayers’ money than anybody else. New Zealanders are not stupid. They know that before one spends money one has to earn it borrow it or take it off somebody else who has some. There are three choices. Labour has discarded option No. 1. Waiting until money is earned before spending it has never been Labour’s practice. Labour is galloping towards a socialist ideal of redistribution of wealth. Labour members have undertaken not to do the borrowing thing mainly because they have painted themselves into a corner by accusing us of borrowing too much during the recession. So that leaves taking money off people who have some. 
A capital gains tax seems to have been a winner in the raffle of options. I am sure that it looked like a good idea at first glance because after all when we stoke up the fires of the politics of envy anyone who can afford two properties or more than just a house when it comes to assets should have money taken off them. Under a capital gains tax Labour wants a 15 percent tax on—well actually it will have to be on an accrual basis but in fact Labour is talking about taking that off only when it is sold. Whoops! Somebody hit the wrong button on the calculator. To get to $4.5 billion the capital gains tax will need to be 30 percent. Whoops again! It will need to be for all asset classes. Then whoops again it will not happen overnight or in one two or three years; it will take 15 years. 
Oh no! What will Labour do now? If it will take 15 years then Labour is back to the drawing board. What? Oh no! Labour has already released the information—unofficially of course. So what will Labour do now? Labour needs to accept that the financial gurus on the third floor—the Cunliffe Parker Goff and Mallard team—have scored an own goal. 
Iain Lees-Galloway 
: Haven’t you got any policy of your own to talk about? 
JO GOODHEW 
: Yes they have scored an own goal and they did it before kick-off. That must be a record. Had they taken a few more moments before they leaked their mighty plan they might have noticed that actually National has done some really good work in this area. 
We have changed the policy settings on the poor policy that contributed to a housing and debt boom and unbalanced the economy. We have already moved to make rental properties less attractive as an investment and to make sure that property investors pay a fair share of tax. Back in Budget 2010 we tightened the settings considerably. Our finance Minister at question time today certainly outlined those. I tell any New Zealanders who own shares a family farm a bach or an investment property to look out because Labour thinks that they are the dream answer to Labour getting back on the Treasury benches. They should look out because they are in Labour’s sights. 
On 26 November New Zealanders will make that stark choice about looking forwards with National or backwards with Labour. It will be a competitive economy and a competitive tax structure that we will focus on. Our kids will want to stay in New Zealand. It is a plan that invites New Zealanders home sees our economy grow and sees everyone better off. That is a plan for New Zealand. 
The debate having concluded the motion lapsed.