Luxon slams capital gains tax as ‘economic wrecking ball’ for New Zealand

New Zealand Prime Minister Christopher Luxon has described the concept of a capital gains tax in his own country as “a wrecking ball” during an exclusive interview with Sky News.

“Capital gains tax for New Zealand would’ve just put a wrecking ball through our economy,” Mr Luxon told Sky News Australia.

“We’ve come out of a tax, spend more, borrow more Labour government, it’s really done some real fiscal damage to New Zealand, it tripled our debt.

“My job is to make sure I build a really good proposition for people at home in New Zealand to understand, this is a place if I work hard, I can get ahead.”