Face of the Day

Hipkins said Labour had spent the past two years “listening to New Zealanders” and rebuilding after its 2023 loss when it was “comprehensively voted out”.

, and Good Oil Staff

3 November 2025 . 6:30 AM

1 min read

Speaking to Q+A with Jack Tame a year out from the 2026 general election, Hipkins defended Labour's proposed capital gains tax (CGT), free doctors’ visits and proposed reinstatement of pay equity while refusing to rule out higher debt to pay for his spending promises.

Hipkins said Labour’s long-debated CGT would raise around 0.58 per cent in additional crown revenue per year, describing it as a “targeted” measure to shift investment away from property and into “productive businesses that create jobs and create opportunities”. [...]

He also confirmed the CGT would not be adjusted for inflation, saying doing so would “ultimately not raise much revenue”.

Hipkins also dismissed concerns the tax would raise rents, arguing that overseas evidence showed “no material impact” from similar schemes. [...]

On potential post-election coalitions, Hipkins again declined to comment on whether Labour would work with Te Pāti Māori but urged voters to vote Labour to deliver a “strong, stable government”. [...]

He said Labour had spent the past two years “listening to New Zealanders” and rebuilding after its 2023 loss when it was “comprehensively voted out”.

“We recognise that New Zealanders were looking for something different,” he said.