Greens push capital gains tax to reduce NZ debt

A capital gains tax is part of the Green Party's solution to reduce New Zealand's debt.

Co-leader Russel Norman has included it in what he calls the "smart green economics" he's outlining in the party's State of the Planet speech today.

"The Greens are advocating a capital gains tax, excluding the family home, because we think that's an essential component of the tax system which is present in just about every developed country apart from New Zealand", he told Newstalk ZB.

"(It) would make a significant impact in fixing up the governments books."

Mr Norman says a capital gains tax would bring in over four billion dollars a year, enough to make a significant reduction to debt, and is also advocating capping government borrowing.

- Newstalk ZB