Dear Friend,

Have you seen the news?

Even in opposition, Chris Hipkins is coming up with more ideas to dig deeper into your pocket.Labour can't quit its addiction to tax and spending, a formula that tanked the economy and got them chucked out of office. 

In the last six years, Labour has tried twice to introduce envy asset taxes – taxes on capital gains or wealth – and both times it has been the Taxpayers' Union who managed to knock them back.

Friend, will you chip in so we can do it again?

Asset taxes kill entrepreneurship and prosperity. 

But for Labour and Chris Hipkins, it's never been about the "good policy"... 

For Hipkins, it's all about translating envy into votes.

Time and time again it has been proved that wealth and asset taxes are a double whammy to the economy and the country. 

Wealth taxes chase away capital and fail to swell the government's coffers. It's a self defeating tax.France and Norway have both tried asset taxes in the last few years. It proved disastrous.

It saw wealthy people and entrepreneurs packing their bags and heading overseas, taking jobs and businesses with them.

Capital taxes have been dismissed in New Zealand before, and for very good reason.

New Zealand is a capital-starved economy and the last thing we want is to tax the very thing we need to get back to growth.

That's why I'm asking for your support today.

We know these policies are driven by populism and envy.

The real solution to our economic woes should be reining in the wasteful public spending and to balance the books.

The right way to start is to have a complete financial and performance audit of the country's finances which will reveal that spending is out of control and worse still, we don't get bang for our buck.

It's something I am passionate about as a Board member and volunteer here at the Taxpayers' Union. 

This week, one of New Zealand's most successful business founders put his finger on it when he stated that the big risk with any new tax is that the government would just squander the takings.

So how do we kill this tax before it kills New Zealand?

Friend, this is the raison d'etre of the Taxpayers' Union. Will you chip-in to ensure we can take on these new tax proposals and fight back?

Friend, Hipkins is describing our country as an "outlier" for not having these asset taxes. He's half right that we're an outlier, but not for the reasons he thinks!

New Zealand is an outlier because we are the single worst country in the OECD at attracting investment – we've just pipped Mexico to last place!

Our country's getting poorer because we're not attracting investment. This has led to low productivity, which means low wages and less jobs. New taxes condemn New Zealand to be poorer for our kids and grandkids. We need to nip this in the bud right now.

Of course, Labour and the Greens say that these taxes will only impact the ‘very rich’. But we all know that won’t last. For any asset tax to raise revenue, it has to end up hitting Mum and Dad homeowners, small businesses and investors.

We must step up and push back against Hipkins and his friends in the media promoting new taxes. If they hoodwink the public, even more young Kiwis will head offshore.

> Click here to make a secure donation <

Thank you for your support.

Hon. Ruth Richardson Board Member New Zealand Taxpayers' Union

Ps. Only with your support can the team get to work and force Labour to abandon this capital taxing nonsense. Click here to chip-in to the 'no new taxes' campaign fund.