Nicola Willis: Finance Minister on council rates, a capital gains tax, and the superannuation age

The Mike Hosking Breakfast

The Finance Minister has a simple message for anyone who doesn't like their rates bill.

A new IRD report shows New Zealand's council rates are almost double the OECD average, with most councils opting for double digit rates rises this year.

Most affected households didn't vote in the last local election.

Nicola Willis told Mike Hosking that if people don't like how much they're paying in rates or how it's being spent, the power is in their hands.

She says if people don't like their rates bill and they don't like the decisions their local council is making, they should make sure they vote.

She also disagrees with the outgoing Treasury boss on her calls for a Capital Gains Tax.

Dr Caralee McLiesh has made it clear there's a need for such a tax and superannuation changes as her five-year term comes to an end.

Willis says she's wrong on tax, but right on retirement age.

She told Hosking that while they're supportive of lifting the age of eligibility, they've agreed with NZ First it won't make the change.

Willis says something will have to change eventually, as the population is going to continuing to get older.

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