BNZ CEO calls for capital gains tax

The head of one of the county’s major banks says the incoming government should make a capital gains tax one of its policy priorities.

BNZ CEO Anthony Healy told Newsroom’s Rod Oram that such a policy would help rebalance the economy. But the government must at the same time reduce other taxes so there’s no overall increase in tax revenue.

Watch the full interview in the video player above

Healy’s pick for the four other top policy priorities are: a “sensible budget”; a big increase in infrastructure spending; education reform across primary, secondary and tertiary education to ensure people are equipped for the fast-changing economy; and a focus on “the social fabric of the country”.

He also supports the increasing calls from business for an independent parliamentary committee to set New Zealand’s long-term carbon reduction targets, and to monitor the effectiveness of government policies in achieving them.

He describes some of BNZ’s innovations in financial technology and products that help, for example, fast growing companies.

Healy values Stephen Toplis and Tony Alexander, the bank’s highest profile economists, as “independent” voices, and describes how he responds when people criticise their commentaries.

"In my view, if you're not upsetting someone, you're probably not trying hard enough," he says.

"Part of their mandate is to push thinking and to force us, as a country, to think differently about how we grow and secure our future."

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