Survey shows support for wealth tax and narrowing political gap

The Labour Party's perceived ability to manage the country's top five concerns has declined, narrowing its lead over the National Party, according to the latest quarterly Ipsos Issues Monitor. While Labour is still considered most capable of handling these issues, it has seen a slide across all of them. The government's performance rating remains unchanged at 4.1 out of 10.

The cost of living remains the primary concern for New Zealanders, reaching its highest level since May 2023. Both major parties saw their perceived ability to manage this issue drop by four percentage points since July, maintaining a 10-point gap between them. Healthcare has moved into second place as concern regarding the sector increased by six points.

A new survey indicates that 64 per cent of respondents support a 2.5 per cent wealth tax on assets exceeding $10 million, excluding family homes. Approximately half of those surveyed support a tax on inheritance and gifts worth over $1 million, as well as a tax on short-term accommodation stays. Support for Labour's proposed capital gains tax on property sales stands at 45 per cent.

Unemployment has risen to fourth place in the rankings of top concerns. Labour's perceived ability to manage unemployment fell from 42 to 34 points, reducing the gap with National to 13 percentage points. This follows a rise in the unemployment rate to 5.6 per cent last month.

Where reports differ

• One report states about half of Kiwis support capital gains tax, while another specifies 45 per cent support Labour's proposed capital gains tax on property sales

Compiled from reports by NZ Herald and Otago Daily Times.