This is edition 2024/153 of the Ten@10 newsletter.
Welcome to the Ten@10, where I collate and summarise ten news items you generally won't see in the mainstream media.
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1. Why New Zealand can’t have a fairer tax system
Bryce Edwards
- 💼 The debate over tax reform in New Zealand is reignited by Labour leader Chris Hipkins, considering revisiting wealth taxes previously ruled out.
- 📉 Opponents argue against progressive tax changes, citing fears of economic impact and government mismanagement.
- 🌏 New Zealand lags behind OECD peers like the UK, Canada, and Australia in implementing capital gains taxes.
- 💰 Vested interests, including business groups and the wealthy, dominate tax policy debates, blocking reforms.
- 🗳️ Political parties on the left struggle to unify on economic issues, often shifting focus to non-economic concerns.