The Labour leader isn't wading into the debate over the Greens' latest tax policy, but promises to reveal more about his party's ideas and bottom lines ahead of the main election campaign.
Under questioning from reporters on Monday afternoon, Chris Hipkins refused to say whether Labour would consider supporting a wealth tax as proposed by the Greens if it required the party's support to form a Government after the election.
"As I've been really clear, we will set out our tax policy well before the election and I can say that I expect to do that before the campaign period begins," Hipkins said.
"That will also include with it, what are bottom lines for us. What would we rule out? What are the things that we wouldn't do? We haven't released that policy yet and I'm not going to make it up on the fly or drip-feed it out
"But we'll be very clear. New Zealanders will know exactly where we stand on all of the issues around capital gains tax, wealth tax, income tax and so on."
The Green Party announced its tax policy on Sunday, including a tax-free threshold of $10,000, adjustments to tax rates resulting in anyone earning under $125,000 receiving a tax cut, a replacement to the Jobseeker benefit and Working For Families, and payments to all tertiary students.
The party said its policy will mean every Kiwi will be guaranteed an income of at least $385 per week.
To pay for it, the party wants a 2.5 percent wealth tax on net wealth over $2 million, a trust tax of 1.5 percent, the corporate tax rate to be hiked from 28 percent to 33 percent and a new top income tax rate of 45 percent applied to any income over $180,000.
Newshub asked Hipkins if he liked the idea of a tax switch. A tax switch in this case could look like taxing wealthier people more in order to tax lower-income people less.
The Labour leader again wouldn't speculate on what the party could put forward.
"I'm not gonna set out what may or may not be in our tax policy or what I may or may not like in the tax area today," he said.
Hipkins said he believes people should have an income "that's sufficient to live comfortably on" and "that if you work hard, you should be able to get ahead and you should be able to enjoy the benefits from that".
He wouldn't say if all households should have a guaranteed income of $385 to live on.
Shortly after being elected leader of the Labour Party in January, Hipkins told AM, "we should always look at how we can make the tax system fairer".
He's also noted that as costs go up for Kiwis due to inflation, Government expenses have also increased. Adjusting tax thresholds could lead to less tax revenue for the Government to then spend.
Hipkins has also said there will eventually need to be adjustments to tax thresholds to respond to wage inflation. But now is not the time, he has said, as tax cuts could be inflationary.
Hipkins said the Government wouldn't introduce a capital gains tax or wealth tax at the Budget, but didn't rule it out for the party's election manifesto.
Former Prime Minister Jacinda Ardern ruled out introducing a capital gains tax during her time in office, but with Hipkins now in the top job, such a restriction no longer applies.
A wealth tax proposed by the Greens was prominent during the 2020 election but was ruled out by then-Labour leader Dame Jacinda Ardern.
As Labour secured a majority at that election, it didn't need to worry about negotiating a position with the Greens afterwards.
The polls are tighter this year, however, and it's very likely that if Labour is to be in Government post-October 14, it will have to rely on the Greens' support. That gives the Green Party more leverage when it comes to negotiations.
Hipkins has previously warned smaller parties to be careful with what policies they set down.
"Smaller parties I think need to be careful in whatever they issue in terms of bottom lines or they could find themselves simply not able to be part of any governing arrangement at all because, ultimately, the larger parties do need to be able to implement the commitments that they campaign on."
