Judging by comments and posts at The Standard and The Psychic Scream, among other Lefty sites in NZ, they’re still hot for a wealth tax. It’s definition is pretty vague but I’ll go with this one from “Bomber”:
A Wealth Tax at the top 1%
The top 1% of total wealth I’m guessing? Here in NZ? Like the following:
- Mowbray Family: $20 billion
- Graeme Hart: $12.1 billion
- ….
Etc, etc.
I guess the following history doesn’t matter to these morons, anymore than any other economic lesson does.
- Ireland: Scrapped in 1978.
- Austria: Scrapped in 1994.
- Germany: Scrapped in 1997.
- Denmark: Scrapped in 1997.
- the Netherlands: Scrapped in 2001.
- Iceland: Scrapped in 2006.
- Luxembourg: Scrapped in 2006.
- Finland: Scrapped in 2006.
- Sweden: Scrapped in 2007.
- France: Scrapped in 2018.
As that link puts it, even the nation with the longest running wealth tax, funnily enough Sweden, finally saw the light:
Wealth taxes where introduced resulted in the collection of almost no revenue and caused massive capital flight. Sweden’s wealth tax lasted almost 100 years before it was eliminated. In the year before revenue amounted to just 0.16% of GDP and its abolition had “virtually no effect” on government finances.
As I recall some billionaire in history said that “history is bunk”
No Minister 
How short sighted. The uber rich in NZ would just go away. Plenty of options for them.
Kevn, Chloe and the other intellectual midgets are working on a way to make the rich pricks leave without their money, as if they actually “live here”.
South Africa have been working it for years?
They are far too dim to know almost all of it is beyond reach already, that is number one reason why they are “Rich”.
Any way it is not Wealth Tax in their tiny minds, it is pure Envy Tax and entirely virtue signalling to the equally dumb nuts who will vote for them.
Judging from the replies I see on The Standard and elsewhere it seems that the intention is take over the assets left behind or “sold” by these rich people.
The argument is that the assets will continue to produce revenue as they did before, except now it won’t be billionaires reaping the profits, likely via SOE’s or perhaps direct nationalisation?
Even if it’s dressed up in modern terms like SOE, the reality is that we’ve heard and seen exactly this argument used before in half-a-hundred places, USSR, Cuba, Zimbabwe,….
I could manage to live on Graeme Harts boat and move around the globe.