Newshub-Reid Research poll: Kiwis support the Government introducing wealth tax

The Prime Minister has dubbed it a 'bread and butter' Budget and on Thursday, Kiwis will find out whether they get a slice or go hungry.

Major tax changes have been ruled out in the Budget but our latest Newshub-Reid Research poll shows voters want one - more than half want a wealth tax.

The Finance Minister has told Newshub tax will definitely feature as a significant issue in the election campaign.

Grant Robertson unveiled the cover of his pride and joy on Wednesday morning, Budget 2023. The title is: "Support for today, building for tomorrow."

Anticipation is building for Thursday, which will be Robertson's sixth Budget.

"A balance between making sure we support people with the cost of living pressures that they are facing right now but also look to a future where we continue to build New Zealand as a nation," said Robertson.

Hot off the printers, and so begins the annual guessing game of what's in and what's out.

Asked if there was a major surprise in there, Robertson said: "No, I don't think there is."

That includes no major tax changes.

"There are not going to be major tax changes in the Budget tomorrow," he said.

National finance spokesperson Nicola Willis thinks "there's got to be income relief for New Zealanders because anything less than that will be a total failure of a Budget".

There's been a lot of speculation about tax cuts, including speculation about a tax-free threshold.

Asked if he would call a $5000 tax-free threshold a major tax change, Robertson said: "I actually would."

A group of wealthy Kiwis, including Rob Campbell, last week called on the Government to tax them more.

"There are different types of wealth or capital gains or other taxes. I am not really fussy about what they do as long as the end outcome of it is that people who have more wealth can pay more tax and do pay more tax," Campbell said.

"We've been very clear that there won't be a wealth tax in the Budget tomorrow but debate about how we get a fair and progressive tax system is important," said Robertson.

Though Kiwis don't back the call to rule it out.

We asked in our latest Newshub Reid Research poll: Would you support the Government introducing a wealth tax? A clear majority, 53.1 percent, said yes, while just 34.7 percent opposed it.

"I'm interested in the results of your poll," Robertson said.

National went hard on a wealth tax at the last election. Former Prime Minister Jacinda Ardern took it off the table, but she's gone and this poll shows voters want it.

Does it give Robertson a mandate to have it as an election policy?

"Well the Labour Party hasn't set its election policy yet but this is a discussion that I think's important," he said.

Tax talk is back.

"Definitely in the election campaign I expect that tax will be a significant issue,' he said.

But first, Budget day on Thursday.

Just one more sleep.