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Grant Robertson: Economic uncertainty the key takeaway from Davos

Newstalk ZB ,
Publish Date
Monday, 28 January 2019, 8:01p.m.
Grant Robertson has returned from his visit to the conference. (Photo / NZ Herald)

The fuse looks set to be lit on a capital gains tax debate.

The Tax Working Group, appointed by the Government in late 2017, will soon make a raft of recommendations on tax reform.

A comprehensive capital gains tax looks almost certain to be a key recommendation.

Finance Minister Grant Robertson says the report will be subject to robust discussion.

"What we set this group up for is how we can make sure that New Zealand's tax system is as fair as possible, as balanced as possible, while still keeping the really good elements."

Robertson has just returned from the Davos Conference in Switzerland.

He told Larry Williams that the general consensus he heard was that there are concerns around the economy, thanks in part to the US and China trade war and the Brexit deal.

"Put all those three things together, a lot of uncertainty."

Robertson thinks we are well positioned due to the surplus, the low debt and the high employment, but says what happens internationally will have some effect.

In terms of Brexit, Robertson says that he and Jacinda Ardern made it clear they want to sign a trade deal with the UK once they are in a position to do so.

"Our good solid relationships put us in a good place."

He says all the messages he got from the European Union was that they are keen to sign a trade deal soon.

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