Labour's capital gains tax and free GP visits

The story so far

In late October 2025, Labour announced three free doctor visits a year for everyone, starting in mid-2028 and funded through a Medicard scheme.^{28 Oct 2025} The funding would come from a capital gains tax of 28% on residential and commercial property, with farms and family homes excluded.^{28, 29 Oct 2025} Labour leader Chris Hipkins said he was unaware his health spokesperson, Ayesha Verrall, had released a separate proposal for an independent body to set GP costs, and took responsibility for the oversight.^{21 Oct 2025} Hipkins then criticised Prime Minister Christopher Luxon's property earnings, claiming they exceeded Luxon's parliamentary salary, and Luxon dismissed the criticism as a political diversion.^{29, 30 Oct 2025} Some members of the medical workforce have expressed scepticism about the policy, while Labour says it is confident in healthcare capacity.^{28 Oct 2025}

Latest

On 2 November, Labour released its capital gains tax policy but said details of how property valuations would be handled would not be disclosed until after the election.^{3 Nov 2025}

What's next

Labour will not disclose its plans for managing property valuations until after the election.^{3 Nov 2025}

Key moments

1. 21 Oct 2025Hipkins says he did not know health policy was being released that day.
2. 28 Oct 2025Labour announces a targeted capital gains tax to fund free GP visits.
3. 28 Oct 2025Three free GP visits promised from mid-2028, funded by 28% capital gains tax.
4. 29 Oct 2025Hipkins attacks Luxon's property earnings, saying they exceed his parliamentary salary.
5. 30 Oct 2025Luxon calls the personal finance criticism a diversion from Labour's policy failures.
6. 3 Nov 2025Labour withholds details of property valuation process until after the election.

Written from the stories below; each sentence links to its sources.