3. Question No. 3—FinanceHon AMY ADAMS (National—Selwyn) to the Minister of FinanceQuestion No. 3—Finance3. Hon AMY ADAMS (National—Selwyn) to the Minister of Finance: Will he commit to ensuring that any changes the Government makes in response to the Tax Working Group's report are revenue-neutral to the Government?Hon GRANT ROBERTSON (Minister of Finance): In light of the last answer I could just say What the Prime Minister said." but no decisions have been taken on how the Government will respond on any aspect of the Tax Working Group's report released today. I would note for the member that the Government specifically asked the working group to include examples of revenue-neutral packages in the final report and we are analysing those as we speak.Hon Amy Adams: Why is he unable to commit to that given that he has previously said about the Tax Working Group's programme "We are not setting out in this process to increase or grab revenue from hard-working New Zealanders."?Hon GRANT ROBERTSON: Because that's entirely true. We set out on this process to ensure that New Zealand has the fairest and most balanced tax system possible and I would note that the last time there was a Government that had a Tax Working Group—a Government that member was part of—that working group recommended a capital gains tax and a comprehensive one.Hon Amy Adams: If this process is not about increasing taxes on New Zealanders as he has admitted he said why can't he commit to it being revenue-neutral? It's a simple question.Hon GRANT ROBERTSON: Because we are working through all of the recommendations in the report and I'd encourage the member to read the whole report because when she does she will see a range of packages that include yes some suggestions on expanding capital income and some suggestions on cutting taxes. We're working our way through the whole package.Hon Amy Adams: Does he agree with the Tax Working Group that a bach a plumbing business or a hairdresser's salon should be subject to a capital gains tax but a multimillion-dollar art collection should be exempt?Hon GRANT ROBERTSON: As I have said in all of my answers we have not made any decisions about the recommendations of the Tax Working Group. We are working through them to make sure that New Zealand has got the fairest and most balanced tax system it can have.Hon Amy Adams: Does he agree with the Tax Working Group that it's fair for corporates to be able to set off their capital losses but not families who own lifestyle blocks or baches?Hon GRANT ROBERTSON: To repeat the earlier answer: we are working our way through the recommendations of the report. I think it would be good to respect the rights of New Zealanders to go through this report make sure that their views are heard and then the coalition Government and our confidence and supply partner will come back with a result.Hon Amy Adams: Can he tell New Zealanders if he agrees with respected tax expert Robin Oliver who's also a working group member that the costs of the capital gains tax will far outweigh the benefits it will discourage entrepreneurship and have a negative impact on productivity in New Zealand?Hon GRANT ROBERTSON: I'll be working through Mr Oliver's opinion which is part of the minority report. I do note that within that minority report Mr Oliver shares the view of all of the members of the Tax Working Group to extend capital income taxation to residential rental properties. So I presume that is now the National Party's policy to endorse Mr Oliver.Hon Amy Adams: Is it fair that someone who works hard all their life to build up a small business create jobs and save for their retirement faces losing a third of their assets on retirement but a wealthy art collector with a multimillion-dollar home would be completely exempt?Hon GRANT ROBERTSON: I don't believe the member's characterisation fairly represents the recommendation from the Tax Working Group which we have not worked through but I am pleased that she is focused on the issue of fairness because that's why we set up the Tax Working Group that's why we're prepared to actually answer the hard questions that come up for Governments from time to time and we'll work through our response respectfully.Hon Amy Adams: Does he think it's good enough that having had the report for many days longer than anyone else he still can't tell New Zealand whether it's his intention to increase taxes overall and still doesn't know or won't say what he thinks is fair?Hon GRANT ROBERTSON: I think what New Zealanders would want from their Government is that that Government works through the report and I understand why the member doesn't realise this but actually this is a coalition Government. We're going to work across the three parties here that represent the majority opinion of New Zealanders and we will come up with the solution for a fairer and more balanced tax system."