I haven’t done the calcs but your answer is wrong

Where do they find these people? O’Connor freely admits that he has done no calculations on the effects of Capital Gains Tax on farmers and yet tells the house that any calculations that National may have done are wrong and National is lying to farmers. quote.

Hon NATHAN GUY (National??taki) to the Minister of Agriculture: Does he stand by all his statements?

Hon DAMIEN O’CONNOR (Minister of Agriculture): Yes.

Hon Nathan Guy: Does he stand by his statements in the House yesterday that were a capital gains to be brought in, it may mean that farms are more affordable for young New Zealanders; if so, what makes him think that a young farmer wants to purchase land with significant environmental taxes and a potential capital gains tax down the track?

Hon DAMIEN O’CONNOR: I guess the member’s referring to the independent report on taxation that has been put out by Michael Cullen and a group of people. The issue of affordability is something that has been referred to. There have been many, many comments out around the country on that report, and we welcome them. Most of them are sensible, are considered?except those from the National Party. Can I say that I don’t only rely on my own wisdom; I can refer to, perhaps, independent commentators who have referred to this particular issue. Dominick Stephens from Westpac, in fact, said, “the current ‘uneven’ tax system encourages investment heavily focused on capital gain rather than income generation, such as residential property and farms, and in effect turns people away from investing in more income-focused investments.” That’s just one of many, many comments referring to the issue of affordability of farms.

Hon Nathan Guy: Does he stand by his statement in relation to proposed taxes on farmers on RNZ this morning?and I’m going to quote?”We haven’t been through the figures.“; if so, why hasn’t he worked out the cost of these proposed figures on farmers and rural communities?

Hon DAMIEN O’CONNOR: Because no decisions have been made on them.[…] end quote.

On what, pray tell, are you going to base these decisions minister, if you have not done any calculations on the positive or negative effects of the proposal? quote.

Hon Nathan Guy: Why is he refuting our figures on this side of the House when he hasn’t even done the figures himself or asked his officials to do any work on these proposals; and what does he say to Federated Farmers today, who are out there saying that the National Party figures indeed may be a bit light?

Hon DAMIEN O’CONNOR: Because I’m not prepared to stand up and lie to farmers, like that member is.

Hon Nathan Guy: I raise a point of order, Mr Speaker. I’ve taken offence to that comment, and I wish that that Minister should withdraw and apologise.


Mallard, rightly told O’Connor off for being offensive.