Revenue Minister Stuart Nash has stressed that the Tax Working Group's report is not the Government's report.

The report was released last week, which recommended the Government introduced a Capital Gains Tax that has the potential to gather $8 billion in revenue in the first five years. 

Such a policy is controversial, as it would cover assets such as land, shares, investment properties, business assets and intellectual property.

Nash told Mike Hosking that there is still a way to go before the Government introduces any of the recommendations. 

"There's a whole lot of water to go under the bridge before [Finance] Minister [Grant] Robertson and myself present something to cabinet and then go out to the public."

He understands that there are concerns and confusion around the news, but he says that it is good that we are having the conversation.

Nash says that he wants to see a fair and balanced tax system with integrity. 

"The question is, is the tax system fair? If you're earning wages and salaries and paying tax, should those who make income from Capital Gains Tax also pay tax?"

He says that if the debate says we don't need it, then "so be it". 

National MP Mark Mitchell says that we don't need the tax, and it will target all homeowners under the current proposal.

He is not convinced by a promise that a tax cut would counter-act the CGT. 

"We need to see it. What they're proposing is what we proposed at the last election."

Mitchell says that two years ago people were talking about a rockstar economy but they no longer are using that language because things have slowed down.

"The introduction of a Capital Gains Tax will be a massive anchor to be thrown off the bow."

He knows that Nash wants the Capital Gains Tax so there is more revenue, but the Government has other options. 

"What you should be doing as a responsible Government is looking at how you use the revenue you generate now, and there has to be accountability around it."