Q+A with Jack Tame Realistic? Labour promises to balance the books, under stricter rules
Nov 29, 2025
Barbara Edmonds, Labour Party finance spokesperson and former government minister, discusses ambitious fiscal goals and a proposed capital gains tax. She emphasizes the need for stricter financial rules to balance the books and highlights the importance of addressing deficits through tax and spending choices. Edmonds outlines how CGT revenue will fund free GP visits, defends Labour's stance on inflation indexing, and shares insights on pay equity and climate responsibilities. Her commitment to transparent fiscal management sets the stage for Labour's economic vision.
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Uneven Economic Recovery Affects Politics
- Barbara Edmonds says economic indicators hide personal experiences and improvements are uneven across regions and sectors.
- She warns an improving economy can make the opposition's job harder because voters may stick with the incumbents.
Targeted CGT With Inheritance Exemptions
- Edmonds defends a targeted capital gains tax focused on investment properties with exemptions like inheritance and main home.
- She frames these exemptions as protecting family wealth despite critics calling them unfair.
Align CGT Rate With Company Tax
- Edmonds explains tax brackets are lifted to avoid bracket creep and defends not indexing CGT fully for inflation.
- She kept the CGT rate at 28% to align with the company tax rate and incentivise productive investment.