Budget 2023: Chris Hipkins urges New Zealanders not to be 'nervous' about potential tax changes

Prime Minister Chris Hipkins on Tuesday urged New Zealanders not to be "nervous" about his Government's Budget after hinting at minor changes to tax.

Hipkins was appearing for his weekly AM interview with host Ryan Bridge, ahead of Thursday's Budget.

At his post-Cabinet press conference on Monday, Hipkins said any tax changes on Thursday wouldn't be "hugely significant". 

It comes after the Prime Minister earlier said the Government wouldn't introduce capital gains or wealth tax in the Budget. Labour has yet to announce its tax policy ahead of October's election.

Speaking to AM, Hipkins said any changes in this week's Budget would be "consistent with the manifesto commitments that we made at the last election" of no new taxes this term. 

"I don't want to get into the 'what's in' and 'what's out' because we're only 48 hours away from the Budget, and there is a clear process around Budget secrecy that even I have to follow," he told Bridge, speaking from Wellington.

Hipkins said the Budget was "absolutely consistent" with previous commitments he'd made.

"People don't need to be nervous," he added. 

Hipkins, while answering questions from Bridge, lashed out at the right-bloc Opposition over their tax policies.

"On the other side, you've got the 'coalition of cuts' where the ACT Party wants to take an absolute machete to Government spending on things that New Zealanders really rely on, on a day-to-day basis."

Labour would be "very clear" about its own tax policy well in advance of the election, he said.