The taxation of capital gains remains a highly contested issue in New Zealand. 

Required: 

a) Some policy experts argue that introducing a CGT would help improve fairness in the New Zealand tax system. Briefly explain the rationale behind this argument. 

b) Many New Zealanders believe that the tax system in New Zealand does not incorporate any form of taxation on capital gains. Indeed, in April 2019, Prime Minister Jacinda Ardern commented “under my leadership, we will no longer campaign for, or implement a capital gains tax”.