Livestream: Grant Robertson and Jacinda Ardern on Tax Working Group's report

The livestream has now finished.

Finance Minister Grant Robertson and Prime Minister Jacinda Ardern are addressing media after the release of the Tax Working Group's long-awaited report on New Zealand's tax system.

The group believes the Government should introduce a capital gains tax (CGT) and has recommended reducing personal income tax, reducing taxes for KiwiSaver, as well as increasing taxes around protecting the environment.

However, a Newshub-Reid Research showed the majority of Kiwis don't want a CGT.

The tax has been political poison for the Labour party before, and is widely acknowledged as seriously damaging the party's vote in the 2014 election.

The Green party fully support introducing a CGT, but New Zealand First leader Winston Peters has long rallied against it.

National introduced the "bright line" test while in government, which acted similar to a CGT for properties, excluding the family home, sold within two years. The Labour-led Government has already extended that to five years.

Newshub.